Rajkot: A 40-year-old man was duped of Rs 44.5 lakh in a cryptocurrency fraud after being lured into a fake USDT deal. The victim, Tejas Patel lodged a complaint at Panch B-Division police station on Friday, over a month after the incident on Feb 8.According to the complaint, Patel was offered Tether (USDT) at Rs 88 per unit, significantly lower than the market rate of Rs 95, prompting him to agree to the deal.Police said the fraud was executed through a network of contacts. Patel was first approached by his friend Nawaz, a former client from his banking days, who introduced him to Vasim Makwana. Makwana then connected him to the main accused, who identified himself as “Tushar Shah”. To gain Patel’s trust, the accused carried out a test transfer of 100 USDT.Convinced by the initial transaction, Patel agreed to a larger deal. On Feb 8, he reached near Apple Gate-2 petrol pump in Jamnagar with Rs 44.5 lakh in cash, accompanied by friends.The accused entered Patel’s car, counted the cash, and claimed to transfer 50,000 USDT, showing a fake “pending” transaction screenshot. He then took the cash bag on the pretext of fetching his car keys and fled.When the transfer did not materialise, Patel realised he had been cheated. Subsequent inquiries revealed that “Tushar Shah” was a fake identity and the accused was identified as Anand Modhvadiya.Police have registered a case of cheating and forgery under sections 318(4) and 61(2) of the Bharatiya Nyaya Sanhita.
