Cryptocurrency scam run under the guise of a real estate firm busted

The crime branch in Thane busted what is alleged to be a multi-hundred crore crypto currency scam that operated for two years under the guise of a real estate firm. Flintstone’s Thane office had 20 employees, while the Vikhroli firm had 50. The scam was devised by The Flintstone Group, an alleged real estate company, that promised its investors not only flats, but citizenship in African and Caribbean countries where, it said, their crypto currency would be legal tender in a few years. Flintstone Group’s crypto currency was called Money Trade Coin (MTC), and was used as bait for investors to put in more money with the lure of high returns and international citizenship. The total value of money invested by gullible investors ran into hundreds of crores, police said. Raids and subsequent detentions were the result of a complaint by a Thane businessman who claimed that he and five of his colleagues had invested Rs 1.7 crore in MTC, but had not received any feedback from Flintstone officials even after the promised date.