Three Arrested in Alleged ₹93 Lakh USDT Fraud in Lucknow
Lucknow police arrested three alleged members of an interstate gang, including a woman, from Hotel Dayal Gateway in an alleged ₹93 lakh USDT cryptocurrency fraud case. The arrests followed two complaints registered at Vibhutikhand police station.
The complainants, Akhilesh Tripathi and Anjani Kumar, separately alleged losses of ₹43 lakh and ₹50 lakh on promises of arranging USDT, also known as Tether, at a commission. Police said forged letters purportedly issued by the Reserve Bank of India and the Securities and Exchange Board of India were used to make the arrangement appear genuine.
In Short
- Three alleged members of an interstate gang were arrested from Hotel Dayal Gateway in Lucknow.
- Two Vibhutikhand complaints alleged losses of ₹43 lakh and ₹50 lakh.
- Police said forged RBI and SEBI letters were used in the alleged USDT deal.
- Investigators recovered a laptop, three phones, 12 forged authority letters and financial documents.
What police allege
DCP East Deeksha Sharma said the accused allegedly offered victims a 2–3% commission on digital-currency transactions and used forged documents to make the proposal look legitimate. Police said the investigation led them to a hotel room where the trio was arrested around 6.15am on Friday.
The accused were identified as Farida Sikander Saudagar, 51, of Thane; Pawan Bisht, 54, from Delhi; and Avadhesh Kumar Mishra, 68, of Lucknow. These are police allegations in an ongoing investigation, not findings of guilt.
Evidence recovered
Police said they recovered an Apple laptop, three Android phones, 12 forged authority letters, three cheque books, two passbooks, two Indian passports, PAN and Aadhaar cards, three ATM or debit cards, and a stamp bearing the name FOR MPS INFORMATICS PRIVATE LIMITED. Investigators are examining the devices and documents to determine whether more people were cheated and whether others were involved.
The case adds to Lucknow’s recent cyber-fraud investigations, including the Kaiserbagh hotel cyber-fraud cash-hub raid. Police follow-through will also be watched alongside the city’s efforts to speed up pending investigations.
Why it matters
The alleged loss was tied to a city hotel and complaints from Vibhutikhand, while the forged regulatory letters were intended to create confidence in a digital-currency transaction. The evidence review may establish whether the three arrests describe the full network or one part of a wider operation.
