Nagpur Police Bust Over Rs15cr Digital Coin Scam Nagpur Police have dismantled a sophisticated multi-level digital coin scam that defrauded thousands of investors across the country of over Rs15 crore. The operation targeted individuals through fraudulent schemes involving "Free Coin" and "Merchant Coin," which promised high returns but ultimately turned out to be a Ponzi-like structure. Two primary accused—Mehul Dixit from Nagpur and Rakesh Garg, owner of a Chandigarh-based firm—have been arrested, while over Rs2 crore in bank accounts has been frozen to prevent further losses. The scam centered around a digital company registered in Mohali, Punjab, in 2022. The firm operated an app called "Future Digital Assets" (FDA), which lured investors with promises of massive returns. According to police, Dixit’s wife, Kajal, played a key role in recruiting victims. She informed a complainant about the scheme in October 2025 and later took her to Dixit’s office at Indora Chowk, where she was persuaded to join. The victim invested Rs2.25 lakh, and her digital wallet was inflated to Rs5.45 lakh. However, withdrawals were blocked under the pretext of company rules limiting payouts to Rs10,000 per month. Under the "Free Coin" model, users were promised Rs12,500 in their wallet after 100 days. To withdraw funds, they had to recruit 25 new members at Rs5,000 each, creating a multi-level chain. The victim recruited 25 individuals and transferred the money to the company. Separately, Dixit promoted "Merchant Coin," falsely claiming its value would skyrocket from Rs2,200 to Rs12 lakh. Despite repeated assurances of refunds, the scheme collapsed, leaving investors with no access to their funds. Forensic audits confirmed that "Merchant Coin" had no legitimate banking linkage or redemption value on any e-commerce platform.#chandigarh #nagpur_police #mehul_dixit #rakesh_garg #future_digital_assets
