Ambala News: Main Accused Arrested in ₹6.90 Crore Cryptocurrency Investment Fraud Case
Ambala Cryptocurrency Fraud, June 15, 2026: Ambala Police have arrested the main accused in a major cryptocurrency investment fraud case involving an alleged scam of approximately ₹6.90 crore. The accused, identified as Mahesh Kumar, was taken into custody and produced before a local court, which granted police a three-day remand for further investigation.
According to police officials, Mahesh Kumar, a resident of Azad Nagar in Hisar, is accused of luring investors with promises of exceptionally high returns through cryptocurrency investments. Investigators claim that he and his associates persuaded victims to invest large sums of money by assuring them that their investments would multiply several times within a short period.
Victims Allegedly Promised Six-Fold Returns
The case came to light after a complaint was filed by Narendra Kumar, a jeweler and property dealer residing in Prem Nagar, Ambala City. In his complaint, Narendra alleged that he was approached by Mahesh Kumar and several associates nearly three years ago.
The accused reportedly claimed they could increase invested funds by up to six times within a year while also offering a monthly return of two percent. Police sources stated that the suspects allegedly used convincing presentations and high-profile references to gain the trust of investors.
Investigators further revealed that the accused allegedly invoked the name of the Chief Justice of India during discussions with potential investors, creating a false sense of credibility and security around the investment scheme.
Victim Claims Massive Financial Loss
According to the complaint, Narendra Kumar invested substantial amounts after being persuaded by the accused and their associates. He alleged that in an attempt to arrange funds, he borrowed money from friends and acquaintances and even sold family gold assets.
However, after investing the money, the promised returns never materialized. As suspicions grew, the victim approached law enforcement authorities, leading to the registration of a criminal case.
Police have named several individuals in connection with the alleged fraud, including Mahesh Kumar and his associates from different districts of Haryana.
Police Uncover Wider Fraud Network
Cyber Crime Police officials stated that preliminary investigations suggest Mahesh Kumar may be a habitual offender. Authorities have discovered that similar cases of cyber fraud and financial cheating have previously been registered against him in districts such as Gurugram and Bhiwani.
Investigators suspect that the accused may be part of a larger organized network involved in fraudulent investment schemes operating across multiple states. Police are currently examining financial transactions, communication records, and other evidence to identify additional victims and possible accomplices.
Public Warned Against High-Profit Investment Schemes
Following the arrest, police officials urged citizens to exercise caution before investing in cryptocurrency or other financial schemes promising unusually high returns.
Superintendent of Police Ajit Singh Shekhawat warned that cybercriminals often target individuals by promising overnight wealth and unrealistic profits. He advised the public to verify the authenticity of investment opportunities and consult financial experts before making investment decisions.
Investigation Continues
The police remand is expected to help investigators gather more information regarding the flow of funds, identify additional suspects, and determine the full extent of the alleged fraud. Authorities have not ruled out the possibility of more arrests in the coming days.
The case serves as another reminder of the growing risks associated with fraudulent investment schemes and the importance of conducting proper due diligence before investing money in any financial venture.