iCoin fraud:12 arrested

The police have arrested 12 people in connection with cheating in the name of iCoin investment. The police have seized 10 cars, Rs 43,000 in cash and gold ornaments worth Rs 5 lakh.

According to the police, the arrested are Kavitha (32) of Kaduhole in Karkala, Sanjay Hegde (39) of Ninjooru, Girish (54) of Baindoor, Sudesh Shetty (25), gram panchayat member in Karki village of Kundapura taluk, Prabhakar Ganiga (36) of Vandse, Chandrashekar (37) of Udupi, Deepak Shetty (34) of Mangaluru, B A Satish (31), Lohith (32), Bhoja alias Bhojaraja (40) of Kinnigoli, Madhikar (69) and Binod Raj (33) of Kodialbail.

The arrested had cheated people on investing in an iCoin website to double the amount within six months. The police had already arrested Ruksinda Banu of Bar Lane in Chikkamagaluru.

As many as 250 people had filed a complaint in Chikkamagaluru town police station on cheating in the name of iCoin investment.