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Police in Jaipur have arrested two men over an alleged crypto investment scam after an investor said he lost ₹5.55 crore to a firm called Easy Way Homes. Officers named 27-year-old Mohit Kaloya as the alleged mastermind and said he was arrested in Gurugram, along with 35-year-old Ghanshyam Kandela.
According to the investigation, the alleged Crypto Investment Scam was operated through websites called Flinty-io and Flinty-live. The platforms were presented to potential investors as opportunities to invest in cryptocurrency or digital coins.
Police allege that investors were attracted with promises of substantial returns. The accused allegedly also used Easy Way Homes to solicit investments tied to property and cryptocurrency, widening the scope of the investment offers.
The operation reportedly maintained an office in Jaipur’s Vaishali Nagar from around January 2025. Investigators allege that people were approached there with offers promising significant returns on their investments.
Police are now examining the flow of money collected through the alleged scheme and whether additional victims or participants can be identified.
The case came to police attention after investor Rishi Mehta filed a complaint with the Sodala police station. His complaint has become a central part of the investigation into the alleged Crypto Investment Scam.
Mehta alleged that Easy Way Homes persuaded him to invest by promising substantial profits within a short period.
According to his complaint, he paid ₹1.55 crore through cheques and approximately ₹4 crore in cash. His total alleged investment therefore reached about ₹5.55 crore.
The situation reportedly changed when the promised repayment became due on January 1, 2026. Mehta allegedly attempted to contact the accused but found their phones switched off.
The complaint prompted police to investigate the alleged investment arrangement and trace the money. Investigators are also examining whether complaints from other investors could be connected to the same alleged network.
The scale of the alleged Crypto Investment Scam has raised questions about how the platforms and investment offers were used to attract funds before the operation was shut down and the accused allegedly went into hiding.
The allegations remain subject to the ongoing investigation and legal proceedings.
As part of the investigation, police seized a Mercedes E 450 and a Triumph Street Triple motorcycle. The two vehicles were reportedly valued at about ₹1.25 crore combined.
Investigators also froze a fixed deposit worth approximately ₹1 crore that police allege was linked to proceeds from the suspected fraud.
Police recovered computers, a laptop and mobile phones from Kaloya. The devices are being examined alongside financial records as investigators attempt to establish how the alleged proceeds were handled.
A key part of the Crypto Investment Scam investigation is determining whether cryptocurrency, trading platforms or other digital channels were used to move the money.
Investigators are also looking into whether funds were converted into digital assets or transferred through other financial routes. The investigation could therefore provide further information about the alleged movement of money once authorities complete their examination of the seized devices and transactions.
The Jaipur case comes as India’s Enforcement Directorate expands its technical capabilities for investigating digital financial crimes.
In September, the ED renewed a five-year agreement with the National Forensic Sciences University in Gandhinagar. The agreement is intended to strengthen cyber-forensic infrastructure, training and technical support.
According to the supplied report, NFSU has expertise in digital forensics, malware analysis, network forensics, as well as cryptocurrency and blockchain tracing. The renewed arrangement includes assistance in establishing and upgrading cyber-forensic laboratories, alongside access to advanced forensic tools and training.
The agreement does not establish a separate crypto-forensics unit or provide the ED with new legal powers over digital assets. Instead, it adds technical expertise to the agency’s wider efforts to trace digital transactions and investigate financial crimes involving cryptocurrencies.
That capability could be relevant to cases such as the alleged Crypto Investment Scam, where investigators need to determine whether digital assets or trading platforms were used to move proceeds.
For the Jaipur investigation, police are continuing to search for additional victims and people who may have been connected to the alleged operation. Authorities are also tracing the money collected through the investment offers and examining the digital evidence recovered from the suspects.
The investigation remains ongoing, and the allegations against Kaloya, Kandela and others connected to the case have not been established as fact by a court.
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