Adilabad: The Nirmal police on Wednesday arrested three government teachers on the charges of their direct involvement in running UBIT cryptocurrency multi-level marketing (MLM) and for motivating people to invest in the business promising huge profits and commissions.
The accused were identified as Dasari Ramesh, 40, SGT teacher at primary school at Kannapur village in Kadam mandal and Kiram Venkatesh, 31, SGT teacher at Daujinaik Thanda in Kubheer mandal and Bommidi Dhanunjay, 34, SGT teacher at primary school in Sonala village in Boath mandal in Adilabad district.
The Nirmal police intensified their probe into the UBIT cryptocurrency business that was thriving in the villages and towns in Nirmal district. The police claimed that they got a breakthrough in their investigation and found key players in the ‘rocket’. The Nirmal police said they have blocked 12 bank accounts that are found related to the UBIT cryptocurrency fraud and they were also investigating the persons involved in the fraud.
The police said it was an international network that penetrated into the villages and cheated gullible people by forcing them with the promise of good profits.
The Nirmal police requested people who have lost their money in Cryptocurrency business, to approach Nirmal SP Janaki Sharmila and share information.
The police said it came to light that Brij Mohan Singh was the main culprit behind this scam and he popularised this fraud in the country.
