This story is from March 22, 2019

Cryptocurrency racket kingpin among 4 more held in Delhi

cleared
Delhi: Cryptocurrency racket kingpin among 4 more held
<p>Picture used for representational purpose only<br></p>
MUMBAI: The city crime branch, which busted a fake cryptocurrency racket last month, arrested four more persons, including the kingpin, from Delhi.
Crime branch (unit XII) on Monday arrested Ashok Goyal Jaipuria, Asif Malpani, Baljit Singh Saini and Pradeep Arora from Delhi after their names cropped up in the Rs 100 crore racket. Police have frozen several bank accounts of Goyal, the mastermind, and Delhi police too are probing the case.
A Bollywood actor, who has been attending seminars and promotions for this crypto currency for the accused, is likely to be questioned.
Police suspect he may have got some monetary consideration. Last month, crime branch had arrested Sanjay Sontakke (44), Rajnikant Kumavat (46), Alpesh Barodia (32) and Kirankumar Panchsara (38) from Mumbai, Surat and Uttar Pradesh.
Umeshchand Jain, a resident of Surat, alleged that the accused duped him of Rs 1.2 crore. He said that accused held countrywide seminars and lured people to invest, with promises that the amount would shoot up.
"The gang launched Cashcoin, a cryptocurrency similar to Bitcoin, a year back, and initially showed profits to few investors and gained their confidence. They thus got more investors and duped them," said unit XII senior inspector Sunil Jadhav. He said the gang's intention was to cheat investors by promising to double investments.
Crime branch has registered an offence of cheating, breach of trust, criminal conspiracy under Indian Penal Code and sections of Information Technology Act. Sources said police may invoke provisions of Maharashtra Protection of Interest of Depositors Act and Chit Funds Act too.
author
About the Author
Ahmed Ali

S Ahmed Ali, Senior Assistant Editor at The Times of India, Mumbai, covers crime and related isues but sometimes he also takes up offbeat subjects. His interests: automobiles particularly bikes, and gymming.

End of Article
FOLLOW US ON SOCIAL MEDIA