Dehradun: A suspected cryptocurrency investment fraud worth nearly ₹20 crore to ₹25 crore has surfaced in Uttarakhand’s capital Dehradun, once again highlighting the growing scale of digital investment scams in India. The case is believed to be linked to the alleged ₹3,200 crore multi-state Botbro crypto and AI-forex investment network, which is already under investigation by multiple agencies. Dubai-based venture capitalist Lavish Choudhary has emerged as a key figure in the case, and reports indicate that an Interpol Red Notice has been issued against him as agencies pursue extradition proceedings.
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Investors Promised High Monthly Returns
According to a complaint lodged at Raipur police station in Dehradun, complainant Durga Bahadur Gurung alleged that nearly two years ago he was introduced to investment schemes by Naveen Singh Negi and several associates. The accused allegedly promoted companies such as Botbro, Cross Market, and Mine Crypto as legitimate and highly profitable digital investment platforms.
The complaint stated that investors were promised monthly returns ranging between five and ten percent. Initially, people were reportedly asked to pay a licence fee of ₹10,000 before being encouraged to invest larger sums through online trading platforms. Investors were allegedly assured that their principal amount could be withdrawn after six months without any deductions.
However, before many investors could recover their money, the platform allegedly shut down abruptly in October 2025. Soon after, investors realised they could neither access their accounts nor retrieve their investments. Complainants claim that crores of rupees were collected from investors across Dehradun and nearby regions through the alleged scheme.
Zoom Meetings, Social Media and Seminars Used to Build Network
Investigators have also found that the suspected investment network was promoted through an organised outreach campaign. According to the complaint, the accused used Zoom meetings, WhatsApp groups, social media promotions, hotel seminars, and personal contacts to attract new investors and build credibility. In the early stages, investors were even promised plots in Biharigarh and post-dated cheques to strengthen confidence in the platform.
Police have registered an FIR against six individuals and initiated an investigation into the matter. Officials said digital transaction trails, bank accounts, and cryptocurrency transfers are being examined in detail. Investigators are also trying to determine whether local agents involved in the operation were directly connected to a larger interstate fraud syndicate.
Agencies suspect that the alleged network was not limited to cryptocurrency trading alone. The accused are believed to have marketed AI-based trading systems and forex investment models promising unusually high profits within a short period. Several investors were reportedly shown limited initial returns to gain their trust before being persuaded to invest substantially larger amounts.
Probe Examines Botbro Links and Digital Money Trails
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said cybercriminals are increasingly shifting from conventional fraud models to cryptocurrency, AI-driven trading platforms, and digital asset schemes. According to him, such networks rely heavily on social engineering tactics and exploit people’s desire for quick financial gains. He noted that showing early profits and projecting guaranteed high returns has become one of the most common methods used in modern investment frauds.
Experts believe many investors fail to realise that their money is often being routed through unregulated or suspicious digital channels rather than legitimate financial systems. As a result, once such platforms collapse or disappear, recovering funds becomes extremely difficult due to the layered movement of money across multiple accounts and digital wallets.
