Nagpur Trader Loses Rs 27 Lakh in Cryptocurrency Investment Fraud

The Cyber Cell of Nagpur city police is investigating a cryptocurrency fraud case where trader Sanjay Jethwa was cheated of Rs 27 lakh. Sanjay Jethwa was lured by Mahavir Sharma and Suraj Gupta with promises of double returns. Between August 18, 2025, and February 2, 2026, Sanjay Jethwa transferred the funds, only realizing the fraud when the accused demanded an additional 10% tax of Rs 3.90 lakh using fabricated returns.

Nagpur cryptocurrency investment fraud

• ▪Sanjay Jethwa, a battery shop owner in Dhantoli, Nagpur, lost Rs 27 lakh in a fake cryptocurrency investment scheme.
• ▪Sanjay Jethwa met accused Mahavir Sharma during a train journey, who then introduced Sanjay Jethwa to co-accused Suraj Gupta.

Fraudulent scheme mechanics

• ▪Sanjay Jethwa transferred Rs 27 lakh via bank account and UPI to accounts linked to the accused between August 18, 2025, and February 2, 2026.
• ▪The accused sent Sanjay Jethwa a fake contract, showed fabricated investment returns, and demanded an additional 10% tax of Rs 3.90 lakh.
• ▪Mahavir Sharma and Suraj Gupta promised Sanjay Jethwa double returns in a cryptocurrency investment scheme.

Police investigation

• ▪The Cyber Cell of Nagpur city police initiated an investigation to trace the siphoned Rs 27 lakh.
• ▪The Cyber Cell of Nagpur city police registered a case of fraud against Mahavir Sharma and Suraj Gupta.