Onecoin Scam : Mumbai Police arrest scammer, total 20 Arrests. - Buy Bitcoins News profitable bitcoin Mining
  • Onecoin Scam : Mumbai Police arrest scammer, total 20 Arrests.


    Police officers in Mumbai add 20 arrests related to OneCoin Scam.

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    Following the traces of OneCoin's  operations , Navi Mumbai police are arresting more promoters of the alleged fraudulent financial scheme. Most of the suspects are low-profile or have fled, but investigations continue to find everyone involved in the scam.

    Until recently, OneCoin Ltd., prospered in India. However, the fraud has resulted in strong police action by the Navi Mumbai Police Offenses Economic Bureau. After the arrest of 18 suspects last month for fraud related to business operations, investigations led authorities to Amit Kedia and Nayan Patel, 32 and 28 years , respectively, according to local media .

    Both cases are involved in the use of accounts to move money from fraud. According to the Chief Inspector of Police, Shivaji Awate, the authorities followed the trail of the scam even to two foreigners involved: Mary Beyance from Mauritius, a recognized tax haven, and Ereena Andreva Belkinska from Bulgaria.

    The misappropriation of funds went unnoticed at first disguised under bank regulations, Awate said. The scam was compounded by the opening on behalf of the Indian defendants of two bank accounts that had the rupee equivalent of $ 402,600.
    Upon learning of his arrest warrant, for Kedia the initial destination was Hong Kong, but following the alert issued to the Airport Authority of India, he was arrested in his attempt to re-enter India by Mumbai International Airport on May 8 . His accomplice was arrested four days later.
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    The investigations were conducted by the research team led by Commissioner Hemant Nagrale, with 15 staff in charge to keep track of the activities of the pyramid scheme. In both cases, the defendants lent their identity to promote the use of bank accounts to store money from the onecoin scam , according to their statements.

    Police are counting that the first count to be frozen was Kedia, who withdrew her name from the account managed by foreigners. Then, the suspects used Patel's services, in exchange for a commission. With this scheme they were moved thousands of dollars continuously until their arrest.

    Authorities are committed to continuing investigations to end the pyramid scheme implemented by OneCoin in India. In the development of this police action, 35 frozen bank accounts related to the fraud under similar circumstances are reported. Meanwhile, he continues the wake -up call internationally  to stop the operations of the fraudulent company.