The Ambala police have arrested a Hisar resident for allegedly duping an Ambala City resident of Rs 6.90 crore by promising exorbitant returns on investments in cryptocurrency.
The accused, identified as Mahesh Kumar, allegedly lured the victim with assurances of six-fold returns on the investment along with an additional 2% interest.
According to the police, the complainant, Narender Kumar of Ambala City, approached the police in March this year, alleging that Mahesh Kumar and his associates had cheated him by inducing him to invest in a purported cryptocurrency scheme.
Between August 2022 and March 2026, the victim invested Rs 6.90 crore. To arrange the funds, he exhausted his savings, borrowed money from relatives and even sold his household gold. When he later demanded his money back, the accused allegedly threatened him with dire consequences.
Based on the complaint, the police registered a case and launched an investigation. A team from the Ambala Cyber Cell subsequently arrested Mahesh Kumar. During his police remand, investigators will seek information about the other accused and attempt to recover the defrauded amount.
The investigation has revealed that Mahesh Kumar is a habitual offender. Cases of cheating have already been registered against him in Gurugram and Bhiwani. The police suspect that the gang’s network may extend to other states.
Ambala SP Ajit Singh Shekhawat said, “The cybercriminals target the general public by luring them with promises of overnight wealth and higher profits. People should not invest their hard-earned money in cryptocurrency and other schemes on the basis of the persuasion of strangers or without verifying the details. People should contact the police and report suspicious activities."
