Palghar: Man cooks up robbery tale after losing Rs 10 lakh in Bitcoin trade

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A businessman in Maharashtra's Palghar district allegedly made up a fake story about being robbed after he lost Rs 10 lakh in Bitcoin trade, police said on Tuesday.

Sumant Ligayat, who was into supply of grocery and other essentials, had saved Rs 10 lakh for his daughter's wedding scheduled next month, an official from Vasai police station said.

However, he lost all the money in Bitcoin trade and was worried about facing his family, he said.

The man approached the Vasai police station and claimed that he had been robbed by an unidentified man, who had snatched his bag containing the money and escaped on a two-wheeler on Monday afternoon, he said.

Also read: Navi Mumbai jewellery shop robbed of valuables worth over Rs 77 lakh

A case of robbery was registered and during a probe, the police realised that there was no truth in the complaint, the official said, adding that the police had issued a warning to the businessman.

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