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Ambala man held for duping people in lieu of high returns on crypto investment
According to Ambala police, the accused, Kapil Jaiswal, a resident of Ekta Vihar, Ambala Cantonment, ran a fake company, “Crypto World Trading Company”, in connivance with a Kurukshetra-based man and two others
The Ambala police have arrested a man for allegedly duping multiple people to the tune of crores by luring them with high returns through cryptocurrency investments.
According to police, the accused, Kapil Jaiswal, a resident of Ekta Vihar, Ambala Cantonment, ran a fake company, “Crypto World Trading Company”, in connivance with a Kurukshetra-based man and two others.
He was arrested by a CIA-1 team, led by inspector Harjinder Singh, on Tuesday and presented before a court that sent him to police remand till Saturday.
DSP (Headquarters) Joginder Sharma, who is leading an SIT in the case, told mediapersons on Thursday that Kapil was arrested from Mahesh Nagar and a Toyota Innova purchased using the victims’ money was recovered.
The arrest came weeks after a resident of Bhanokheri village, Mandeep, and several others filed a complaint with superintendent of police Jashandeep Singh Randhawa, accusing the company of making off with their investments worth crores.
An investigation was conducted by the economic offences wing (EOW), following which an FIR was registered against Tarun Taneja, the prime accused who hails from Kurukshetra, along with Vikas Kalra, Pawan Kumar and Kapil Jaiswal, all Ambala residents, at the Ambala Sadar police station on August 24.
Subsequently, an SIT was constituted under DSP Sharma, including cops from the economic, crime and cyber wings, to probe the case further.
Duped group of friends from Ambala
In his complaint, Mandeep, who lost over ₹15 lakh in the scam, had submitted that he had met Vikas Kalra through his friend and further Tarun Taneja, who briefed him that he had designed an investment software through Google that was government recognised.
“Taneja registered my ID with a deposit of ₹8,000, which was shown as $100 against my name. He assured that for every ₹8,000 invested, $2 per day will be credited at the end of the day for five days a week, with investments allowed only up to 120 days. Believing him, me and a lot of my friends invested ₹10-12 lakh each from May to August this year through Google Pay transactions, which ran into crores,” Mandeep told the police.
But thereafter, the company went off the grid and the four accused left two WhatsApp groups which included 500 investors each.
“The fraud is spread across Kurukshetra, Karnal, Yamunanagar and other districts bordering Ambala, with several victims still reluctant to show up, probably because of the cash transactions involved,” said a senior cop privy to the probe.
CIA-1 in-charge Harjinder Singh that the victims were also encouraged to rope in more investors for more profit, adding that many victims were coming forward that will help ascertain the total amount involved in the fraud.
DSP Sharma said based on the inputs provided by Kapil, several police teams were conducting raids to uncover the nexus and arrest other co-accused at the earliest.
