Reality Dance Star Accused in Rs 20 Lakh Cryptocurrency Fraud

Mumbai police have filed a case against 'Dance India Dance' Season 1 finalist Jai Kumar Nair, accused of defrauding a woman of Rs 20 lakh by promising high returns on cryptocurrency investments. The complainant, Dipti Asija, claims Nair paid returns for 11 months before halting payments. An investigation is ongoing.

The Mumbai police have registered a case against 'Dance India Dance' reality show's Season 1 finalist Jai Kumar Nair for allegedly duping a woman of Rs 20 lakh on the pretext of high returns on cryptocurrency, an official said on Tuesday.

The complaint was lodged by Dipti Asija, who runs an imitation jewellery business. She came in contact with Nair through a mutual friend. In November 2022, she initially gave him Rs 6 lakh and subsequently provided him with Rs 14 lakh in two tranches. Nair had assured her of good returns on her investment, the official of Oshiwara police station said.

Nair paid her monthly returns for the first 11 months, but stopped in December 2023. In January this year, he gave her Rs 10,000 on two occasions. After Asija approached the police, he gave another Rs 10,000, the official stated. Despite the ongoing investigation, Nair has yet to be arrested and denies the allegations.

(With inputs from agencies.)