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Surat Diamond Broker Loses ₹44 Lakh in Cryptocurrency Scam

Surat Diamond Broker Loses ₹44 Lakh in Cryptocurrency Scam

Author:

Global Cryptocurrency

Published:

2025-11-10 14:44:01

15

2

BTCCSquare news:

A Surat-based diamond broker, Balu Shiyora, fell victim to a cryptocurrency scam, losing ₹44 lakh to a fictitious investment firm named 'Enjoy Overseas.' The fraudsters, Chetan Nakum and Madhur Katariya, leveraged familial trust to lure the victim with promises of high returns. The broker invested the amount between 2022 and 2023 but never received any returns. The case has been reported to the Varachha police station, and an investigation is underway.

The scam began when Dalpat Nakum introduced Shiyora to his son and nephew, who claimed to run a lucrative cryptocurrency business. Using flashy returns and confident rhetoric, they convinced the broker to part with his funds. The accused later evaded repayment, prompting legal action.

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