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Two persons have been arrested by a team of Special Staff, North District for allegedly snatching mobile phones and using the sim card to transfer money from the wallets and bank accounts of the victim, said Delhi police on Saturday.

The Delhi Polices Cyber cell of the outer district has busted an online Ponzi Fraud Scheme and arrested one person who duped people of more than Rs 40 crores on the pretext of giving exponential returns of 10 per cent on a daily basis, officials said on Saturday.