NEW DELHI: A 31-year-old man from Rajasthan has been arrested for allegedly defrauding a couple by promising a 28% monthly return on their investment, police said on Tuesday.
The accused, Vinod Kumar, hailing from Sri Ganganagar, ran an online Ponzi scheme named “Dollar Win Exchange.”
According to police, in November 2024, the victim’s wife came across video promoting high-return investment plans. After clicking a link, the couple joined a social media group and was lured to invest starting from Rs 1,000. Initially, they received small returns, but were later convinced to invest larger sums. Eventually, the payments stopped, and they realised they had been cheated of Rs 19 lakh.
“An investigation traced the defrauded amount to two bank accounts in Kumar’s name. He was located in Sri Ganganagar through technical surveillance and arrested,” DCP (central) M Harsha Vardhan said.
“Kumar, who previously worked in a cooperative society, used his experience in multi-level marketing to deceive people,” the DCP added.