The Hyderabad Police Central Crime Station (CCS) on Thursday arrested a Delhi-based man for allegedly cheating people in Telangana and other states in the name of online business related to Bitcoin Scam transactions.
“The accused has been identified as Ashish Malik and has been charged under Section 4C, 420, 120 (b) and Section 5 of the IT Act-2008, Section 66C, D and Indian Penal Code (IPC). Said the police.
“Malik was brought from New Delhi on a transit warrant and produced before a Metropolitan Sessions Judge in Telangana for judicial remand. Malik and four others have been arrested following a complaint lodged by Ballarp Rama Krishna.”
According to the police report, “According to the complaint, the accused had created four websites to raise money for online bitcoin business. They promised to send deposits to their bank accounts online.
“The accused have collected around Rs 52 crore for 1,200 deposits across the country. About 250 depositors are from Telangana. Malik and other accused are also involved in the Bitcoin fraud case in Delhi.
On June 26, the Rajasthan Police Anti-Terror Squad (ATS) uncovered a massive bitcoin scandal in the state, with links to other states and countries.