Rishikesh, Dec 30 (PTI) A cyber fraudster has been arrested in Tehri district for duping a man of Rs 7 lakh, police said on Monday.

Naveen Gangwani was arrested from Gandhi Nagar area of Sri Ganga Nagar in Rajasthan on December 29, Tehri SSP Ayush Aggrawal said on Monday.

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The accused has been sent to 14-day judicial custody, he said.

A case was registered against the accused at Narendra Nagar police station on December 18, he said.

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The accused told the police that many of his associates were involved in the crime and the money was transferred to different bank accounts and converted into Bitcoin, the SSP said.

Cyber criminals have started converting the looted money into Bitcoin, complicating the process of recovery, he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)