Dubai-based cryptocurrency racket kingpin held at IGI airport

New Delhi, Jan 1 ( IANS ) In a big success, the Economic Offences Wing of the Delhi Police nabbed the Dubai-based kingpin of a 2.5 crore cryptocurrency racket from the Indira Gandhi International airport.
The accused Umesh Verma, 60, was escaping the law on charges of cheating and misappropriation of funds obtained under the guise of cryptocurrency trading.
Since 2017, Verma, along with his son Bharat, allegedly cheated at least 45 victims in the national capital by promising them handsome returns by investing in the virtual currency. They assured the complainants fixed returns between 20%-30% per month on their investment in the Pluto Exchange Crypto Currency.
The accused Umesh Verma opened an office at a prominent location in Connaught Place and induced the complainants to invest in the scheme of Pluto Exchange Crypto Currency in November 2017. He hosted attractive websites and uploaded promotional YouTube videos to induce the victims.
The father-son duo operated the websites www.plutoexchange.com and www.f2poolmining.com where the victims were asked to register.
However, post-dated cheques issued to them were dishonoured on presentation. Subsequently, they closed their offices and ran away. Accused Umesh Verma changed his residential addresses frequently to avoid the victims and finally shifted to Dubai.