Vishal Rana/Hamirpur

In a startling revelation, the masterminds behind a 2,500 crore cryptocurrency scam camouflaged their activities under the guise of social service. The accused, founders of the Him Jan Seva Foundation registered in 2019 in Mandi, not only duped investors with dreams of building a cow shelter but orchestrated deceptive transactions in the name of societal welfare. The intricate web of deceit unfolded during an investigation by the SIT, exposing a monthly flow of crores through the foundation’s operational bank account. The accused even lured investors nationwide in seminars, falsely promising lucrative returns in the name of social service, raising concerns about potential tax evasion.

Unmasking the Foundation: A Multi-Layered Deception

Established in 2019, the Him Jan Seva Foundation became the epicenter of a crypto scam as its founders strategically registered it during the same year. At the time of registration, the founding members injected 51-51 thousand rupees each into the active bank account. The foundation aggressively marketed its formation to gain public trust, organizing seminars in upscale hotels where hundreds were swayed into becoming members by contributing 11-11 thousand rupees each. The accused, under the foundation’s facade, executed transactions worth crores monthly, skillfully evading scrutiny from both the Income Tax Department and the police. Further investigation reveals the culprits initiated the process of acquiring land for a cow shelter under the pretext of cow welfare.

SIT’s Pursuit of Truth: A Deep Dive into the Foundation’s Records

According to Abhishek Dullar, the head of the SIT, the accused created the Him Jan Seva Foundation as a front for their illicit activities. The foundation’s operational bank account witnessed transactions worth crores each month, all under the guise of social and cow welfare. The masterminds manipulated public trust, attracting investments in the millions by falsely associating their venture with societal and cow welfare. The SIT has meticulously scrutinized all records related to the foundation, shedding light on the intricate lay soers of this elaborate deception.