Mumbai Police arrest a fraudster luring of crypto investment

Police have arrested a man from West Bengal for allegedly cheating a college student by promising to double her money by investing in crypto currency. The officers have also recovered Rs 23,966 that the accused had cheated. The man was originally from Mumbai but was hiding in West Bengal.

Mumbai: A 24-year-old man was arrested by Mumbai Police from West Bengal allegedly for duping a college student online by promising to double her money through crypto investments. The man allegedly duped a student in Mumbai and fled to West Bengal to evade arrest.

According to the complaint lodge by the student, the accused, identified as Saidul Ali Maula, contacted the complainant on her mobile phone and told her to invest money in crypto currency assuring that she would get double the amount soon.

Immediately after the conversation, the student who studies in a college in Matunga area in Mumbai received an advertisement message on her Instagram social media account in favour of 'Binomo Bitcoin' company regarding investments in cryptocurrency. A QR code was sent to the complainant and she paid Rs 23,966 and immediately realised that she had been cheated by a cyber fraudster.

The student then registered a case at Matunga Police Station under Indian Penal Code Sections 419, 420, 465, 467, 471 and Section 66 C 66 of DIT Act. Initiating an investigation, Matunga police deciphered the QR code of the accused and got his details including his social media account, Instagram and his bank account transactions .

The accused was then traced to South 24 Parganas in West Bengal. Police Inspector of Matunga Police Station, Keshav Vagh took permission from senior officers and went to Bengal. They conducted search operations in sensitive areas of the district like Mahestala and Metiabruz, where the accused was active.

"Acting on a tip off and with the help of local police, a raid was conducted in certain areas and accused was arrested. The accused was produced before Alipur Sadar Court of West Bengal and then brought to Matunga Police Station on investigative transit remand. During further investigation, police recovered Rs 23,996 that he had cheated from the complainant. This apart, an iPhone that the accused had stolen from Murari in Birbhum was also recovered," an investigation officer said.

Later, the accused was produced before a Mumbai court and remanded in police custody till February 27.

Deputy Commissioner of Police Dr. Praveen Mundhe felicitated Matunga Police Station Police Inspector Keshav Vagh and his team for arresting the accused from West Bengal and recovering the money.