An alleged mastermind of a cryptocurrency scam has been arrested in India after he fled the country to Dubai. Investors were duped into investing in a cryptocurrency linked to a crypto exchange he established. The scheme also promised investors a monthly return of 20%-30% on investments.
Alleged Kingpin of Crypto Scam Arrested
An alleged mastermind of a cryptocurrency scam, Umesh Verma, was arrested at the Indira Gandhi International Airport on Thursday as he arrived from Dubai. Local media reported that he was arrested “on charges of duping at least 45 people to the tune of Rs 2.5 crore in a cryptocurrency scam.”
The 60-year-old is held by the Economic Offences Wing of the Delhi police. Verma was accused of cheating and misappropriating funds from investors under the guise of cryptocurrency trading. The case was registered with the police in September.
Verma, a Delhi University graduate, had a jewelry and greeting card business, which suffered huge losses. He was also