Delhi woman arrested in crypto currency fraud case; used to promise 15% to 150% returns

The police in Maharashtra's Thane city have arrested a 31-year-old woman from Delhi for allegedly cheating a person of more than Rs 7 lakh in crypto currency fraud, an official said on Friday.

Based on a tip-off, the police's economic offences wing (EOW) arrested the accused Babita Kishore Kumar from Delhi a couple of days ago, inspector Neelam Wavhal of the EOW's cyber crime branch said.

The Khadakpada police of Kalyan had received a complaint against a company called Mytoken Wallet Trading Pvt Ltd, for having cheated an investor to the tune of Rs 7,58,560, she said.

An offence under sections 420 (cheating) and other relevant provisions of the Indian Penal Code and Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, was registered in this regard, the official said.

The company wooed investors promising returns of 15 to 150 per cent if they invested in crypto currency. They publicised schemes on Youtube, telegram and other channels, it was stated.

The accused never returned the invested sum or gave the returns they had promised.

The police have so far unearthed a fraud of around Rs 2.50 crore and the figure and the number of cheated investors may increase, she said.

The official further appealed to people who invested in crypto currency through the company to get in touch with the EOW with their complaints.