The Navi Mumbai police, probing virtual currency scheme OneCoin for fraud, have found Rs 24 crore in nine bank accounts that were operated from four states. In April, the police had arrested 18 people who had organised a seminar in Jui Nagar allegedly to attract investors to put money in the scheme. Promising hefty returns in 2018, the accused had sought a one-time investment of Rs 11,900 each from the investors.
The police found that the accounts were operating in Delhi, Rajasthan, Gujarat and Maharashtra. “We found Rs 24 crore in the accounts and blocked them. Most are beneficiary accounts and did not have any outflow,” said an officer. The accounts, the police added, were operating since September last year but only saw a spike in deposits from November. “That is when the scam was at its peak,” said the officer, adding that suspicious transactions in the accounts had been flagged and were under probe.
While the 18 arrested belong to the lower rung of the organisation, the police said they had identified those working at the firm’s higher levels. “They were involved in collection of money,” said the officer. The accused organised seminars in Mumbai, Thane and Navi Mumbai since September last year. OneCoin operated only out of a website. Investors were given login credentials and they could view the number of coins they had purchased. They had been told that the value of the currency would fluctuate with that of the Euro.