Key accused Joshi arrested

Vadodara: A month-and-half after they registered a case in the cryptocurrency fraud, the detection of crime branch (DCB) has arrested one of the key accused in the case. Following specific information, the cops nabbed Kamal Joshi who was on his way from the city to Surat about him. The police is expecting that Joshi’s interrogation will lead them to the other accused.

The police has already nabbed one of the accused Hiren Thakkar, a resident of Diwalipura, who revealed the modus operandi of the gang. Thakkar’s job was to contact prospective investors and bring them to the seminars organized by the company. Once the prospective investors attended the seminars, the accused used to convince them about investing in cryptocurrency.

The accused sold pay way coin at Rs 7 a piece and promised that the prices would touch Rs 100 per piece in four months. About 80 citizens were sold over two lakh pay way coins worth Rs 17.18 lakh. The investors, however, didn’t get any returns for some months following which they approached the accused. The accused promised them better returns but later shut down Pay Way Coin company and started another firm named Brio Hydroponics. When the investors again demanded their money, the accused refused and instead threatened them.TNN