Dubai, January 1: Dubai based absconding kingpin of cryptocurrency fraud (Pluto Exchange) Umesh Verma was arrested on Friday for alluring many people to invest in bogus cryptocurrency. He was arrested on Thursday from the Indira Gandhi International Airport.

According to NDTV report, Verma was held by the Economic Offences Wing of Delhi police on arrival from Dubai where he had fled to in 2018, after having defrauded people in India.

Umesh Verma, Kingpin of Cryptocurrency Fraud Arrested From Delhi Airport: 

Here's what the fraud was:

In the cryptocurrency-related case, the police alleged that Verma, and his son Bharat Verma, had induced hundreds into investing in a scheme operating under the name of Pluto Exchange, promising monthly fixed returns of between 20 and 30 per cent. He was arrested earlier on December 17, too, by the Directorate of Revenue Intelligence in a gold smuggling case.

(The above story first appeared on LatestLY on Jan 01, 2021 03:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).