Delhi's Ponzi Mastermind Nabbed: Online Scam Ringleader Arrested

A 31-year-old man, Vinod Kumar, from Rajasthan has been arrested by Delhi Police for running an online Ponzi scam, cheating at least 150 individuals. Kumar, along with an accomplice named Prince, created a fake investment platform, duping victims into investing by promising high returns through a social media strategy.

Delhi Police have successfully apprehended Vinod Kumar, 31, from Rajasthan for masterminding an elaborate online Ponzi scam, which defrauded at least 150 victims. This arrest, announced by officials on Tuesday, uncovers the depth of fraudulent activities leveraging social media and false investment promises.

Kumar, detained from Sri Ganganagar, was implicated following a complaint by a Delhi resident who lost Rs 19 lakh in the scam. The false investment platform, Dollar Win Exchange, enticed victims with promises of a 28% monthly return, leading several to invest substantial sums after minor initial profits.

Investigators tracked down Kumar through detailed analyses of bank account activities and call records. During interrogation, Kumar revealed his past experience enabled the creation of the fraudulent scheme, involving multi-level marketing strategies and a fake online presence. Police continue to search for additional victims and accomplices.

(With inputs from agencies.)