New Delhi, May 19: A 19-year-old youth was arrested from Rajasthan for allegedly scamming people by promising them high returns on crypto investment, police said on Friday.

Narendra Chaudhary, a resident of Sawai Madhopur district in Rajasthan, ran a mobile repair and accessories shop and operated the scam from his village with another person, a juvenile. Crypto Fraud in Delhi: Rs 500 Crore Cryptocurrency Scam Unearthed by Cops, Fraudsters Dupe Victims by Offering '200%' Returns.

The fraud was exposed when a man approached the Delhi Police with a complaint that he was duped of Rs 45,000 in a social media scam. According to his complaint, the alleged scamsters promised him double the money in a single day, if he invested in crypto funds through them, police said. New Online Scam Alert! Man Made To Invest Money in Fake Crypto Platform After Accepting Part-Time Job Offer, Duped of Rs 5 Lakh; Here's How Scamsters Executed the Fraud.

As per the complaint received on February 21, the man had joined a group on social media which advertised high returns on investments in bitcoin and other cryptocurrencies, as well as in mutual funds, a senior police officer said.

The man called the mobile number given in the group and started getting messages on WhatsApp. The person on the other side identified himself as Bonesh Meena. He asked the complainant to pay Rs 10,000, and later Rs 6,000 in GST for a month, the officer said.

He called him once more saying his profit has been booked and again asked for Rs 12,000 as commission - swindling him for Rs 45,000 in all by the end. A team under the supervision of Inspector Pawan Tomar, SHO Cyber Police Station north district, was formed to nab the accused.

During the investigation, police zeroed in on the location of the mobile number, which was traced to Rajasthan's Sawai Madhopur. Based on the information, police made a raid in Kundera village in Sawai Madhopur and arrested Chaudhary, Deputy Commissioner of Police (north) Sagar Singh Kalsi said.

During questioning, Chaudhary revealed that he worked with a juvenile and operated from Kundera and other nearby villages, he said.

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