Dehradun Court Petitioned Over ₹12 Crore Crypto and Forex Scam Allegations

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A judicial application filed in Dehradun seeks a police FIR into an alleged ₹12 crore crypto and forex investment scam that left nearly 160 investors unable to withdraw their funds.

Promises of High Returns and Online Recruitment Tactics

According to the judicial petition, the alleged fraud was orchestrated by Lavish Chaudhary, alias Nawab Ali, a resident of Muzaffarnagar in neighboring Uttar Pradesh. The accused allegedly leveraged digital communication channels, private social media groups, and online messaging platforms to engage potential investors across Dehradun. During these interactions, the accused presented the investment structure as an exclusive opportunity to participate in high-frequency cryptocurrency trading and forex markets, guaranteeing monthly returns of 5 to 6 percent.

Investors were reassured by claims of regular dividend payouts and the stability of digital asset markets, leading many to deposit substantial sums into the platform. The network expanded rapidly via an incentivized referral system, where existing participants received commissions for recruiting new members, including family, friends, and colleagues.

Court records indicate that between 140 and 160 individuals from various Dehradun localities joined the scheme, collectively entrusting approximately ₹12 crore to the accused.

Sudden Frozen Withdrawals and Police Inaction

The scheme initially functioned smoothly as new capital flowed into the network. However, it collapsed when investors attempted to withdraw their profits or reclaim their principal investments. Platform operators abruptly halted all cash payouts and digital wallet transfers, locking users out of their accounts. When victims contacted the accused or local network managers for explanations, they received evasive responses before communication channels were permanently severed.

Faced with significant financial losses, the complainant first approached the Raipur police station to file a detailed complaint, including transaction records, bank details, and the identities of the accused. After limited progress at the station level, the victim escalated the matter to the Senior Superintendent of Police (SSP) in Dehradun. When no formal police investigation or FIR registration followed, the complainant pursued judicial action under statutory provisions to compel law enforcement to act.

Forensic Financial Audits and Scope of Judicial Probe

The petition submitted to the Dehradun court requests explicit judicial directives compelling the police to investigate the alleged fraud. A primary focus of the upcoming police inquiry will be determining whether the ₹12 crore was ever used for legitimate cryptocurrency exchanges or forex trading platforms or if the operation functioned as an unauthorized Ponzi scheme relying on capital layering. Investigators will also trace the final destination of the funds to identify secondary bank accounts, digital asset wallets, and real estate acquisitions linked to the accused and potential co-conspirators across state lines.