5 June, Indian police stopped the cryptocurrency scams. Working under the guise of a real estate Agency, company the Flintstone group has sold a home in the Caribbean and promised to support the citizenship of African countries. For this the customers were offered to invest in the cryptocurrency Money Trade Coin (MTC). Employees Flintstone has managed to attract investments in the amount of several tens of millions of dollars.
Investors did not appear suspicious.
According to police, in total, the business has invested in Flintstone group $253 million. However, their hope of profit was illusory - the company ceased to make payments on deposits and answer questions from investors.
June 4, police executed a search warrant at the company's offices and arrested two people linked to the fraudulent activities of the company. The alleged organizer of the criminal scheme - managing Director of Flintstone Group Amit Lakhanpal - hiding from the investigation, law enforcement officers suspect that he has traveled outside of the country.
A police officer commented: "Investors are promised to return the money invested twenty-fold in six months. But at the end of this period, the company refused to return money".