Two directors of Navi Mumbai Bitcoin trading company are facing allegations of defrauding investors to the tune of Rs 39 lakhs. The Navi Mumbai police have taken swift action, registering an offence against the accused individuals, Uday Thakur and Bharat Mhatre, reported PTI.

The charges levied against them include section 420 (cheating) of the Indian Penal Code and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) (MPID) Act.