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Cryptocurrency scam: Defendant arrested in Delhi….

New Delhi: Umesh Verma, 60, a jewelery owner and trader, has been arrested for allegedly embezzling Rs 2.5 crore from 45 people in connection with a cryptocurrency. He was taken into custody by the Delhi Police’s Financial Crimes Unit after landing on a flight from Dubai.

He started a cryptocurrency project in November 2017 with his son Bharat Verma called Pluto Exchange. The promise was that if money was invested in the scheme, a fixed dividend would be paid each month. Umesh Verma had deceived those who believed this and invested money and entered Dubai.

He was also arrested by the DRI in 2017 in a gold smuggling case. The court has remanded Umesh Verma in police custody for three days for detailed questioning.

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