Police arrest two crypto currency fraudsters in UP, recover Rs 9 cr

Hyderabad/Uttar Pradesh, August 25: Telangana police arrested two persons, who cheated in the name of crypto currency in Uttar Pradesh and recovered Rs 9 crore from them.  They were bringing the accused to Hyderabad.
 
According to police, Abhishek Jain, son of a big businessman of Moghulsarai, Chandoli district, UP, cheated a few persons in Hyderabad and other areas in Telangana in the name of crypto currency. He lured them by promising that their amount will be doubled in less time. 
 
Later the victims realized that they were cheated and went to police seeking justice.
 
Police during their investigation found out that the accused belongs to Uttar Pradesh and raided his house at Ravi Nagar in Moghulsarai. They recovered Rs 9 crore cash and mobile phones. 
 
Along with Abhishek Jain, police also took Kannaiah Yadav into custody. Cops elicited information from the duo how they cheated the victims. 
 
Several cases were registered against Abhishek Jain in three Commissionerates limits in Hyderabad. The police reportedly produced the accused in Moghalsarai court and bringing him to Hyderabad on transit remand.