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DELHI POLICE BUSTED GANG OF CHEATS, USED TO CHEAT PEOPLE IN NAME OF ROSNEFT HEDGE FUND AND CRYPTO CURRENCY

February 09, 2018 07:50 PM

New Delhi (Face2News)

Cyber Cell of Crime Branch,Delhi has arrested two cheats namely (1) Ashish Malik (Aged 33 years) R/o Palam Colony, Delhi (Present Address Sec-18B, Dwarka, Delhi) and (2) Sandeep Kaushik (Aged 32 years) R/o Distt.Jhajjar, who operated/channelized the operation of Multi-Level Marketing (MLM) in this crimesyndicate of Rosneft Hedge Fundand Virtual Crypto currency in the name of “RHF Coin/RHF Gold” with the help of hisother associates. A CaseFIR No.10/2018 dated 06.01.2018 u/s 420/120-B IPC & 4 Prize chits and money circulation schemes (Banning)Act-1978, Delhi was registered at PS Crime Branch, Delhi in this regard. 

PUNJAB CONNECTION

*Directors of Rosneft Hedge Fund/RHF Coin/RHFGold used to take money from investors through their agents Naveen Singal and Sanjeev Sharma of Rajasthan who arranged meeting with investors. Sunil Singh Chauhan has also been arrested by Barnala Police, Punjab on 12.01.2018 in Case FIR No.48/15u/s 420 IPC PS City 2 Mansa, Punjab.*As per RBI guidelines, “the creation, trading or usage of virtual currencies including Bitcoin as a medium for payment is not authorized by any central bank or monetary authority. No regularity approvals, registration orauthorization is stated to have been obtained by the entities concerned forcarrying such activities”. 

The above stated case was registered on the written complaint of one Shri Vinod Kumar R/o Shakurpur, New Delhi-44 in which the accused persons took Rs.7,50,000/- from complainant by luring him to invest in Rosneft Hedge Fund which was advertized by the directors to be the part of Russia based Oil Company Rosneft, for very handsome profits.

Similarly, one more complaint of Shri Ravinder Pal Saini r/o Jundala Gate, Karnal, Haryana was alsoreceived at Cyber Cell, Crime Branch who paid 27 bitcoins to the directors ofRosneft Hedge Fund who also lured complainant to invest in this company for extraordinaryreturns.

The accused persons were taking money in the form of Bitcoins/cash/cheque initiallyby luring investors to invest in Rosneft Hedge Fund and thereafter they converted the amount invested in the Rosneft Hedge Fundinto RHF Coin and RHF Gold without the consent of investors. The accused persons alsolured people for investing into newly launched virtual Crypto currency RHF Coin.The said coins were initially launched with the price rate of Rs.3.50/coin witha promise of high profit making for its investors but presently those coins areof no use. Ashish Malik, Sandeep Kaushik and SunilSingh Chauhan r/o Barnala, Punjab have introduced himself as owner of Rosneft HedgeFund Company to the complainants and whose name was later on changed to RHFCoin/RHF Gold.

During the enquiry of the complaint, a team of Cyber Cell of Crime Branch led by Inspector Sandeep Malhotra consisting of SI Ajay KumarGupta, HC Rajesh Kumar, HC Kuldeep, Ct. Gagan, Ct. Irfan, Ct. Naresh, Ct. Rajat,Ct. Narinder and Ct. Ankur was constituted under the supervision of ACP/CyberCell/Crime Branch Shri Sanjeev Tyagi and over all supervision of DCP/Crime,Shri Bhisham Singh to nab the cheats. The team started working meticulously andsystematically to trace the cheats. Sincere efforts were made to trace thecheats and information was developed about these cheats.

After a hard work offour months, the team ultimately was able to nab Ashish Malik and Sandeep Kaushik from their hideout at Sector-18, Dwarka, Delhi. They were interrogated at length and both were arrested. 

During interrogation, Ashish Malik and Sandeep Kaushik revealed that they have operated/channelized the operation of Multi-Level Marketing in this crimesyndicate of Rosneft Hedge Fund and Virtual Crypto currency in the name of “RHFCoin/RHF Gold”along-with Sunil Singh Chauhan and with the help of his other associates. As per Registrar of Companies, no company exists in the name of RosneftHedge Fund/RHF Coin/RHF Gold. 

Mr. Alok Kumar, Joint Commissioner of Police, said  accused person Ashish Malik has done MBA from MD University in the Year 2009. Thereafter he came into the profession of Property Dealing.

Accused person Sandeep Kaushik has done BA from MD University in theYear 2007. Thereafter he worked in Aviva Life Insurance, Gurgoan.

In the Year 2010, Sandeep kaushik met Ashish Malik for the purpose of his Life Insurance. Sandeep Kaushik also introduced Ashish Malik to Sunil Singh Chauhan. All the trio came into the field of Virtual Crypto currency/Multi Level Marketing (MLM) in the Yea 2016 and used their contacts to extend this business of cheating people atlarge. They initially launched Rosneft hedge fund and thereafter virtual Cryptocurrency in the name of “RHF Coin/RHF Gold” in January, 2017. 

As per RBI guidelines, “the creation, trading or usage of virtual currencies including Bitcoin as a medium for payment is not authorized by any central bank or monetary authority. No regularity approvals, registration orauthorization is stated to have been obtained by the entities concerned forcarrying such activities”.   

In spite of such clear cut instructions of the RBI, the accused persons in connivance with other accused persons launched this crypto currency namely RHF Coin in January 2017. Initially the accused persons launched the cryptocurrency with a rate of Rs. 3.5 per coin and promised its investors that they will get 8%, 11%, 14% & 17% commission on the basis of amount invested. In order to lure the investors the accused persons conducted lavish promotional functions/seminarsat various prominent hotels located in Delhi, Indore, Russia, Pattaya (Thailand)and Dubai etc. 

It is not only a case of mass cheating but also attracted the sections of The Prize Chits and Money Circulation Schemes (banning) Act, 1978. This is a case of mass cheating wherethe accused persons took money from innocent public and duped the investorsseveral Crores of rupees.

The accused persons were living lavish life style andhave visited many countries with the help of cheated money and were using AudiCars. Accused person Ashish Malik and Sunil Singh has already been arrested byIndore Police, Madhya Pradesh where they have organized a seminar to dupeinnocent public at large. Further investigation is in progress.

Several FIRs have been registered against these fraud companies and their directors indifferent states of India mentioned below:

*FIR No.174/2015 dated4/7/2015 u/s 420/406/120B IPC and 3/4/5 Prize Chit and Money CirculationSchemes (Banning) Act at Police Station City Barnala, Punjab.

*FIR No. 41/2014 dated02/02/14 u/s 420/406 IPC PS Vidhayak Poori, Jaipur, Rajasthan.

*FIR No. 0151/2017 dated 20/03/2017 u/s 420 IPC PSTukoganj, Indore, Madhya Pradesh.

*FIR No.33341024170065 dated12.02.2017 u/s 420/34 IPC PS Ganj, District Raipur, Chhatisgarh. 

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