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    Otc Fraud Allegations: $50M OTC Fraud Allegations Spark…

    Sam Boolman | Crypto Enthusiast and WriterBy

    Self Chain Fires CEO After $50M OTC Fraud Claims

    Ravindra Kumar has been removed as CEO of blockchain startup Self Chain after being linked to an over-the-counter crypto scheme that allegedly defrauded investors out of more than $50 million. The project announced Kumar’s termination on Monday, citing his ‘alleged involvement’ in the months-long operation. Kumar denied any wrongdoing, calling the accusations ‘entirely incorrect’ and stating that his legal representatives will handle the matter. Self Chain’s CEO, Mohammed Waseem, mentioned that the scheme started with legitimate deals but later turned into a full-blown fraud. Waseem has refrained from naming the broker involved, as it could impact recovery efforts.

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    Sam Boolman | Crypto Enthusiast and Writer

    Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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