A man in New Delhi has been arrested for allegedly
duping people by alluring them to invest in fake cryptocurrency, reported PTI. The accused, identified as Umesh Verma (60), alongside
his son Bharat Verma and others, reportedly induced individuals to invest in
the scheme of cryptocurrency being operated by the former by the name of Pluto
Exchange, after which a case was registered.

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Verma was arrested at the Indira Gandhi International
Airport while returning from Dubai.

So far, 45 victims of Verma have pointed out that
they have been duped of Rs 2.5 crore in the stated connection in 2017.

Reportedly, Verma assured the complainants returns ranging
between 20 and 30% of the invested amount each month, with promises of an added
commission on introducing more clients to the business.

However, rather than returning any amount to the clients,
the accused ran away each time, with Verma changing his residential address several
times frequently, until finally settling in Dubai.

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“Investigation revealed that Verma was the sole
proprietor of M/s Pluto Exchange formed for the fraud. He was the authorised
signatory in bank accounts opened in the name of the firm,” Joint Commissioner
of Police (EOW) OP Mishra was quoted as saying.

Opening an office in Connaught Place in 2017, Verma
got the complainents to invest with Pluto Exchange in November of the same year.