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Gwalior CA Duped of ?21 Crore in Crypto Scam; Shajapur BJP Leader Arrested, ?50 Lakh Found in Account
The State Cyber ??Police have achieved a major breakthrough in a ?21.05 crore fraud case, considered one of the largest cyber scams in Madhya Pradesh. Ashok Vijayvargiya, a 70-year-old Chartered Accountant from Gwalior, was defrauded after being lured with the promise of high returns on cryptocurrency investments. Jagdish Kumar Malviya, a BJP leader and Zilla Panchayat member from Shajapur, has been arrested in connection with the investigation.
A woman had befriended Ashok Vijayvargiya and subsequently persuaded him to deposit money into various bank accounts under the guise of investment. Between December 2025 and July 2026, he transferred a total of ?21,05,92,000 into these accounts. Although he was initially promised good returns, demands for further deposits arose when he attempted to withdraw his funds. Suspicious of this, he lodged a complaint with the State Cyber ??Police nodal station in Gwalior.
The investigation revealed that ?50 lakh of the defrauded amount had been deposited into the bank account of the accused, Jagdish Kumar Malviya. Acting on this information, a cyber police team traveled to Shajapur and arrested him. He was subsequently produced in court and remanded to police custody.
Preliminary investigations have uncovered suspicious transactions exceeding ?2.50 crore in the accused's bank account. Police suspect that his account may have been utilized not only in this specific case but also in other cyber fraud incidents. A thorough probe into his banking records and other financial transactions is currently underway.
The State Cyber ??Police have achieved a major breakthrough in a ?21.05 crore fraud case, considered one of the largest cyber scams in Madhya Pradesh. Ashok Vijayvargiya, a 70-year-old Chartered Accountant from Gwalior, was defrauded after being lured with the promise of high returns on cryptocurrency investments. Jagdish Kumar Malviya, a BJP leader and Zilla Panchayat member from Shajapur, has been arrested in connection with the investigation.
A woman had befriended Ashok Vijayvargiya and subsequently persuaded him to deposit money into various bank accounts under the guise of investment. Between December 2025 and July 2026, he transferred a total of ?21,05,92,000 into these accounts. Although he was initially promised good returns, demands for further deposits arose when he attempted to withdraw his funds. Suspicious of this, he lodged a complaint with the State Cyber ??Police nodal station in Gwalior.
The investigation revealed that ?50 lakh of the defrauded amount had been deposited into the bank account of the accused, Jagdish Kumar Malviya. Acting on this information, a cyber police team traveled to Shajapur and arrested him. He was subsequently produced in court and remanded to police custody.
Preliminary investigations have uncovered suspicious transactions exceeding ?2.50 crore in the accused's bank account. Police suspect that his account may have been utilized not only in this specific case but also in other cyber fraud incidents. A thorough probe into his banking records and other financial transactions is currently underway.
A woman had befriended Ashok Vijayvargiya and subsequently persuaded him to deposit money into various bank accounts under the guise of investment. Between December 2025 and July 2026, he transferred a total of ?21,05,92,000 into these accounts. Although he was initially promised good returns, demands for further deposits arose when he attempted to withdraw his funds. Suspicious of this, he lodged a complaint with the State Cyber ??Police nodal station in Gwalior.
The investigation revealed that ?50 lakh of the defrauded amount had been deposited into the bank account of the accused, Jagdish Kumar Malviya. Acting on this information, a cyber police team traveled to Shajapur and arrested him. He was subsequently produced in court and remanded to police custody.
Preliminary investigations have uncovered suspicious transactions exceeding ?2.50 crore in the accused's bank account. Police suspect that his account may have been utilized not only in this specific case but also in other cyber fraud incidents. A thorough probe into his banking records and other financial transactions is currently underway.
