UP: Two arrested in Rs 100 crore cryptocurrency fraud

Agra (UP), Jan 11 (PTI) Two alleged masterminds of a cryptocurrency fraud worth Rs 100 crore have been arrested here, police said on Sunday.

According to police, the accused cheated several thousands of people across four states.

The accused, Vinod, from Baghpat and Vinay, hailing from Lucknow, created a fake cryptocurrency website and organised seminars at prominent hotels during 2019, 2020 and 2021 to lure people into investing, promising them high returns, Additional Deputy Commissioner of Police (ADC) Aditya said.

Around 1500 people were cheated in Agra alone, while the total number of victims runs into several thousands across Uttar Pradesh, Haryana, Himachal Pradesh and Uttarakhand, he said.

Investigation so far has revealed that they collected around Rs 100 crore from people in Haryana, Himachal Pradesh, Uttarakhand, and Uttar Pradesh through this scheme and misappropriated the funds.

The two allegedly collected nearly Rs 100 crore through the scheme and misappropriated the funds. Vinod has several cases registered against him earlier, the ADC said.

One of their accomplices, Ajay, has already been sent to jail by the Agra police, while several others are absconding. Efforts are on to nab them, the officer added. PTI COR NAV OZ OZ