According to officials, a man has been arrested by the Hyderabad division of the Enforcement Directorate (ED) for allegedly duping over a thousand people by pretending making investments in a Russian oil company Roseneft, and cryptocurrency.
The Economic Offence Wing (EOW) of the Delhi Police had earlier detained Ashish Malik on May 30, 2022, and he was taken into custody by the ED from the notorious Tihar Jail. 36-year-old Ashish Malik is a native of Kakrola and has an MBA degree from a college in Rohtak.
According to sources speaking to India Today TV, Ashish and his friends Sunil Singh and Sandeep Kaushik would host seminars at five-star hotels and promise investors huge returns on their investments.
The financial investigation agency claims that the three launched two cryptos, ‘RHFCOIN’ and ‘RHFGOLD,’ and promised clients a 20% return each month on their investments in Roseneft Hedge Fund. It’s believed that Sunil Singh and Sandeep Kaushik left India to avoid being arrested in connection with the case.
‘They collected crores from people across India and laundered the same by investing in cryptocurrencies, largely bitcoin. Subsequently, the accused and his accomplices siphoned off the funds they had collected. The proceeds of the crime are Rs 52 crore. However, further investigations are on to unearth the actual amount,’ the ED said in a statement.
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