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Bengaluru: Three people, including a father-and-son duo, were arrested for luring people to invest in Bitcoins in return for huge profits.The arrested are MS Srikanta, his father Satheesha MA, and their associate Deepak. Satheesha is director of Sri Pancha Aishwarya Multipurpose Souhardha Co-operative Limited. The trio cheated at least 1,300 people and pocketed around Rs 6 crore. The accused had opened an office GG Online (GGO) Private Limited on Sampige Road in Malleswaram and had lured people with high returns against investment in cryptocurrency. One of the victims, Veerabhadraswamy, 47, a businessman, filed a complaint at the cybercrime police station in the police commissioners office recently. He had invested Rs 10,000 in GGO company and the accused initially gave him 15% profit over the investment made. tnnWe also published the following articles recently

Depositors accuse co-operative of cheating 60L

Depositors of Sri Pancha Aishwarya Multipurpose Souhardha Cooperative Limited in Bengaluru have accused the bank's director and board members of cheating them of over Rs 60 lakh. The depositors, including Vinay KR, had accounts and fixed deposits with the cooperative. When they went to withdraw their money, the bank delayed payment and later locked its head office. Twelve depositors have filed a complaint, with three more joining them.

'Need private investment, consumption for growth'

Economists discussing the IMF's regional economic outlook for Asia have highlighted that private sector expenditure and consumption are the main obstacles to global economic growth. The high levels of global uncertainty and interest rates are contributing to the slowdown. Countries are focused on short-term policies, but longer-term reforms are needed to boost economies. Private investments in India have not recovered to pre-pandemic levels, with a lack of job creation and consumer-oriented industries struggling. Consumption recovery in India is uneven, with premium products selling well but rural demand remaining flat or negative.

World Investment Forum 2023 ends with strong call for greater private and public investment

The 8th World Investment Forum concluded in Abu Dhabi with a call for public and private investors to reshape the world economy and capitalize on emerging opportunities in energy transition, agrifood and health sectors, and sustainable development. The forum highlighted the decline in foreign direct investment and emphasized the need for investment to achieve sustainable development goals. It also discussed the importance of investor conversations in the upcoming COP28 climate summit and unveiled new investment policy instruments and strategic partnerships. The 9th World Investment Forum is scheduled for 2025.

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Man, son held in Bitcoin fraud - Times of India