After Republic TV unearthed a web of Chinese links, dubious loan apps and crypto exchanges in what appears to be perhaps the biggest financial expose of 2022, Republic Media Network’s Editor-in-Chief Arnab Goswami has called upon people who have been fooled by crypto to come forward against the scam.
Speaking about the national crypto scam, Arnab Goswami said, “Thousands, lakhs or maybe millions of Indians are being duped by these swindlers. I have always maintained that crypto in a sense is a gigantic scam whose impact on India, India’s economy and hard-working people will be incredibly painful. Our newsroom is besieged with callers from all across India who are demanding justice, who are demanding that ‘this status quo cannot continue’. So Republic will partner with them in their fight for justice. I am in turn, calling upon those who have been swindled by crypto, who in any form have lost their savings, who have been filled by these fake marketing campaigns and who have been fooled by the news channels.”
“I am calling upon people who have been fooled by crypto and crypto swindlers to please reach out to us,” Republic Media Network’s Editor-in-Chief said.
‘Crypto scam is more than a danger’
Referring to the government and RBI’s stand that ‘Crypto is a danger’, Arnab Goswami said, “Then you are letting it continue. If it is a danger you essentially know that, the ordinary Indian will be impacted but why are doing nothing about it? We do not need an international consensus on this. We need to take action internally.”
Adding further he said, “The nature of the scam, the extent of the scam is so severe. What we will do, we will put out the narration, we will put stories out so that authorities, regulatory authorities and the government will finally take absolutely concrete action instead of repeatedly telling us ‘it’s a danger’, it’s more than a danger.”
‘Will bring the attention of the scam to the govt’
Republic Media Network’s Editor-in-Chief revealed that Republic TV intends to bring the attention of the Union Finance Ministry to the extent to which the crypto scam has penetrated people.
“What we intend to do is to put together all these cases and we will send it to the finance ministry and the RBI and hopefully try to bring their attention to the extent to which the scam has penetrated people,” Arnab Goswami said.
On Chinese loan sharks that issued loans against the norms of the RBI, Arnab said, “Chinese loan sharks have been known for a long time. But the fact is the Chinese loan shark uses this dangerous crypto to take money out, our national sovereignty is been affected. Terrorist groups are using crypto, and Hawala operators are using crypto but where is the money coming from? The money is coming from the pockets of the poor.”
Arnab Goswami hits out at media channels for fooling people on crypto
Arnab called upon those news channels who have been extremely opportunists and who know that people are being fooled but were taking money from the same crypto. “It’s a blot on India’s journalism and it will be remembered for a long time. Some people in media discarded all forms of ethics and have taken money from the crypto people knowing that Indians are sufferings.”
“I call upon Republic supports not to remain quiet anymore and ensure this pain. Indians should not endure this pain or this suffering. Indian must say ‘enough is enough. We need action now’,” Arnab Goswami said.
Notably, Republic TV in its mega-multi city investigation has learnt that 10 cryptocurrency exchanges are under the scanner of agencies for laundering approximately Rs.1000 crore. The ED has attached the bank balance of the aforesaid 12 NBFCs to the tune of Rs.105.32 crore. According to sources, the proceeds of crime in this alleged scam which involves instant loan Apps, Fintech companies, NBFCs and cryptocurrency exchanges is a whopping Rs.8,19,61,25,594.
Interestingly, during the investigation, it was found that the fintech companies allegedly received funds from China and Hong Kong. The shocking China hand in ruining India’s financial health just cannot be ignored.