Police arrested man for indulging in bitcoin fraud

Praveen Samuel

Hyderabad: Detective department of CCS caught a man who was accumulating a huge amount of money from public via online, launching his own websites. On Thursday, the police arrested Ashish Malik for his blameworthy online cryptocurrency business. According to police, as per the complaint, he had amassed huge amount of money from public by launching four websites and most of the depositors are from southern states. According to police report, the accused had collected nearly Rs 52 crore from 1,200 depositors across India. Out of which, Rs 10 crore depositors were from Southern states and particularly about 250 depositors were identified from Telangana. The police traced the accused in Delhi, brought him to Hyderabad city on transit remand, and produced him before the Metropolitan Sessions Judge Court in Telegana for judicial remand. The case has been registered against him for the violation of IT Act (2008) and Andhra Pradesh Protection of Depositors Financial Establishments Act (1999). Police are further investigating in connection with such cases.]]>

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