A 32-year-old man, who allegedly duped people by luring them into investing in a newly-launched cryptocurrency, "Kashhcoin", was arrested by Delhi Police's Crime Branch.
Narender alias Sonu Dahiya, hailing from Sonipat in Haryana, was arrested from Rithala following a tip- off, they added. Arun Kumar approached police with a complaint alleging that he was cheated to the tune of Rs 13.90 lakh by a gang, the police said.
He told police that they lured him into investing in 'Kashhcoin'. The coins were initially launched at a rate of Rs 3.50 per coin and the victim was promised that he would earn a huge profit, they added.
The 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 eminent personalities to those seminars to attract more and more people, said the officer.