Home News Crime Delhi Police Make New Arrest With Regards to Money Trade Coin Scam

Delhi Police Make New Arrest With Regards to Money Trade Coin Scam

January 11, 2019 11:40

Police officials in Delhi have arrested a collection agent named Rohit Kumar in connection with Money Trade Coin crypto scam. The mastermind Amit Lakhanpal, however, still remains at large.

Delhi Police head office
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The Money Trade Coin saga doesn’t seem to be ending anytime soon as new arrests are being made continuously in connection to this scam. The latest arrest has come from New Delhi, and it’s the arrest of a collection agent who used to collect the money from investors on behalf of the company behind Money Trade Coin. The collection agent, named Rohit Kumar, is originally a resident of UP’s Azamgarh district, and he has been arrested on the complaint of a Kanpur-based victim of the scam. The mastermind of the scam, Amit Lakahnpal (32), still remains at large.

The news of this arrest was first broken by The Indian Express. According to police, the accused had established an office in Delhi’s Vikram Nagar area to collect money from the people. Three other people related to this scam have also been arrested already by Maharashtra Police earlier in June itself. One of them was the Chief Accountant of Amit Lakhanpal. Now the police officials are trying to extract some more information from this recently arrested collection agent Rohit Kumar.

In case you don’t know, Money Trade Coin was a 500-crore rupees cryptocurrency scam floated by a Real Estate businessman named Amit Lakhanpal, who had posed as a member of Finance Ministry to lure his investors. He had also conducted several high-profile events in Dubai to promote his cryptocurrency, some of which were also attended by the members of Royal Family. Dubai has recently opened up its economy for crypto-related businesses, and Lakhanpal took advantage of this situation to lure people for his scam. Police says that he had also used an article published in an international magazine make people believe that his company is indeed linked to the Royal Family of Dubai.

Now months after the scam coming to light, Amit Lakhanpal remains at large. Police officials believe that he might’ve fled to London from Dubai, but that notion is still unfounded. It will be interesting to see what other bits of information come out after this new arrest in relation to the case.

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)


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