FQL Crypto Scam Kingpins Detained in Tamil Nadu's Dindigul

The Economic Offences Wing (EOW) police in Tamil Nadu's Dindigul district have detained two individuals, K Ranjith and his wife Priyadharshini, suspected to be kingpins in a multi-crore FQL cryptocurrency investment scam.

At least 40,000 people from across Madurai, Virudhunagar, Dindigul, and Sivaganga fell victims over the past seven months. The two allegedly operated fraudulent schemes under various names, including 'FQL Investment Trading', 'FQL Exchange App', and 'VG Investment Group Syndicate.'

Preliminary investigation revealed that agents lured people to invest in cash and UPI transactions. A portion of the funds was allegedly converted into Tether (USDT) and credited to FQL/VG wallets. Subsequently, withdrawals failed, and investors' balances became inaccessible.