Cryptocurrency scam: Crime branch arrests three: Cryptocurrency scam: Crime branch arres…

VADODARA: Three persons who were named in the Pay Way Coin cryptocurrency scam were arrested by crime branch.

The three accused Mihir Pathak, Harish Limbani and Jayanti Patel were held when they produced themselves before cyber-crime branch after obtaining anticipatory bail from a sessions court here. The accused were remanded to one-day police custody on Saturday.

Police said that the three accused are claiming that they have very little role in the entire racket. They told police that they are only working for the kingpin Pravin Patel. However, they admitted that the Pay Way Coin company floated by Pravin in Ahmedabad had accepted investments to the tune of Rs 17 lakh from several investors promising them high returns.

However, when the Reserve Bank of India declared that cryptocurrency cannot be considered as valid payments systems, Pravin shut down offices of Pay Way Coin and started another company. A police official said that the new company was named Brio Hydroponics which…