Jaipur Police Crack Fake Crypto Scam, Arrest Two Suspects

Jaipur police have arrested two men in connection with a suspected Rs 100 crore investment fraud. The accused operated through fake cryptocurrency websites, Flinty-io and Flinty-live, promising high returns from property and cryptocurrency investments.

The mastermind behind the scam is Mohit Kaloya (27), who was arrested in Gurgaon. His alleged associate, Ghanshyam Kandela alias Ghanshyam Kadel (35), was arrested later on the basis of information obtained during Kaloya’s interrogation.

The police have frozen a Rs 1 crore fixed deposit allegedly created from the fraud proceeds and seized a Mercedes E 450 and a Triumph Street Triple motorcycle worth around Rs 1.25 crore.

According to police, the accused collected crores of rupees before shutting down the operation and fleeing. The case came to light after a complaint by Rishi Mehta, who alleged that Kaloya and Kandela induced him to invest in their company, Easy Way Homes.