Dr. Jaiswal criticized the district administration and police for their inaction despite the scale of the fraud.
After the Chit Fund mega scandal, another major scam has surfaced in Chhattisgarh’s Manendragarh-Chirmiri-Bharatpur (MCB) and Korba districts, where individuals posing as cryptocurrency managers defrauded crores of rupees from the public under the guise of crypto investments and then disappeared. It is alleged that the QLOF company collected substantial sums from investors, abruptly ceased withdrawals months ago, and subsequently abandoned its office.
Complaints have been filed at Chirmiri police station, although no case has been registered yet. Former Congress MLA Dr. Vinay Jaiswal and his supporters visited the police station and submitted a memorandum demanding immediate action against the company.
Dr. Jaiswal has accused QLOF of defrauding people of approximately Rs 600 crore before fleeing. He has issued a warning that if authorities fail to take stern action against the company within ten days, he will organize protests at the police station.
The scam involved enticing people, including unemployed youth and common citizens, with promises of substantial profits through cryptocurrency investments. Initially, the entry fee was Rs 3,000, which was later increased to Rs 6,000 as the network expanded in April. Participants were lured with high commissions, bonuses, and promises of interest on deposits.
