ADILABAD: Investigating the fraudulent cryptocurrency scheme, Nirmal police arrested three government teachers on Wednesday. They allegedly duped people by encouraging them to invest in “U Bitcoin”.
The accused were identified as Dasari Ramesh, a government teacher from Kannapur village in Kadam mandal, Bommidi Dhanunjay, a government teacher from Sonala village in Boath mandal; Kiram Venkatesh Goud, a government teacher from MPP Daujinayat Thanda in Kubeer mandal.
SP Dr G Janaki Sharmila said many people have been using new technologies to scam others and earn quick money. “The accused targeted government employees, businesspeople and middle-class people. The scam spread across the district, from Kadam to various other areas, with many victims realising they had been cheated after investing in the fraudulent cryptocurrency. After realisation, they lodged complaints with the police,” she added.