NEW DELHI: The Economic Offences Wing of Delhi Police has arrested a 60-year-old man who had allegedly duped around 50 people of crores on the pretext of selling them a new cryptocurrency.
The accused, Umesh Verma, was arrested from Indira Gandhi International Airport upon his arrival from Dubai. Police had a look-out circular issued against him.
Verma had hosted his own website and a connected app called ‘Pluto Exchange’ for sale purchase of their new cryptocurrency launched in the name of ‘Coin Zarus’.
“They induced people to invest on the pretext of giving higher returns and assured that their value would increase manifold. At least 45 businessmen from Delhi were duped of Rs 2.5 crore,” joint commissioner (EOW) OP Mishra said.
Police have taken Verma on three-day remand for questioning. According to Mishra, Verma was earlier arrested in a gold smuggling case by the Directorate of Revenue Intelligence (DRI) in December 2017.
Police had received several complaints from people about Verma, a greeting cards maker by profession. The complainants alleged that the accused, along with his son Bharat Verma and others, had induced them to invest in the scheme of cryptocurrency being operated by them under ‘Pluto Exchange’.
The accused allegedly assured the complainants of fixed return between 20% to 30% per month on their investment.
Verma had opened his office in Connaught Place in November 2017 and operated like a chit fund scheme.
However, the promised returns dried-up and post-dated cheques issued to them were dishonoured and Verma changed his residential addresses frequently to avoid the victims and finally shifted to Dubai.
The FIR, in which Verma has been arrested, was registered on receipt of complaint from Joginder Kumar and others. During investigation it was found that Verma was the sole proprietor of Pluto Exchange. He was arrested after detailed questioning as he failed to justify his cryptocurrency business plan, police claimed.