Delhi Man Fooled People With False Crypto-Currency, Organised Lavish Seminars Across Country, Arrested

A 32-year-old man, who recently fooled people by attracting them into investing in a newly-launched crypto-currency, "Kashhcoin", was arrested by Delhi Police's Crime Branch, police said today.Narender alias Sonu Dahiya lives in Sonipat from Haryana was detained from Rithala yesterday following a tip-off, they added.

Arun Kumar approached police with a complaint alleging that he was cheated to the getting of Rs. 13.90 lakh with the help of the number of people, further said by the police.He told police that they attracted him into investing in 'Kashhcoin'. The coins were initially launched at a rate of Rs. 3.50 per coin and the victim was swearing that he would earn a big amount of profit, they added.During the police investigation, some more complainants were received by the police related to the same case.

Under the guidelines of the Reserve Bank of India(RBI), crypto-currencies are not court-ordered in India, the police said.The police investigators found that the accused organised lavish seminars in different places including Nepal, Mumbai, Gujarat, Chandigarh, Raipur and Nagpur for business promotion, said Alok Kumar, Joint Commissioner of Police (Crime).At these seminars, they would lure people into investing in this coin for earning high profits by claiming that the rate of this coin will cross the cost of 'Bitcoin'. They used to invite the eminent famous person to those seminars to attract more and more people, said the officer.The videos of these seminars were even uploaded on YouTube which aided the police in their probe, the police said.Raids were conducted by the police force in Maharashtra, Rajasthan and Uttar Pradesh.