MP man held from Jharkhand for e-wallet fraud

A 24-year-old man was arrested from Jharkhand by Madhya Pradesh police for allegedly duping a person of Rs 6 lakh in an e-wallet fraud, an official said on Saturday.

Sourabh Choubey created an e-wallet named "M-2-Money" into which complainant Anil Singh, a Jabalpur resident, deposited Rs 6 lakh but was then unable to access it, said Ankit Shukla, Superintendent of Police, State Cyber Jabalpur zone.

Choubey, a resident of Pali in Umaria district, was held from Jharkhand after Singh filed a complaint, he said.

"The e-wallet created by Choubey had facilities like bill payment and shopping. The accused offered an interest of one per cent per day to attract depositors to his e-wallet. He got it designed by an Indore-based engineer for Rs 10 lakh, which he collected from friends, and then had it launched on Google Playstore," the SP said.

Shukla said Choubey, pursuing a diploma in mining from a private university in Sagar district, managed to get 5,000 users for his e-wallet.

"He denied access to the depositors after the money in the e-wallet touched Rs 80 lakh. He splurged it on a luxury car, jewellery, foreign tours. We are gathering details of other such complaints registered against him," Shukla said.

Police said the fraud was the first of its kind in the state.