Indeed there's an issue, so understand your problem, and not your fault atleast
Haven't found reason yet, but adding libtorrent 1.2-daily PPA and installing python3-libtorrent, cannot import libtorrent module from python3 strangely, saying module not found as you posted. I googled it and after reading 3 stackoverflow/superuser threads about this, where a solution posted but no explenation given in any of them, despite requested. Anyway, i'll edit in the reason later, when digging little depper, but for now atleast solution available.
There's a forked libtorrent python-wrapper on pypi working, so install that to fix - In the latest 18.04(.6) livecd ISO I tested this in, then pip not installed by default, so probably need that also, with 'sudo apt install python3-pip'. Then install working libtorrent python-wrapper fork with: 'sudo pip3 install lbry-libtorrent'. Now the importing works, as I tested it returning 1.2.4 through 'python3 -c "import libtorrent; print(libtorrent.version'' - I didn't check deluge, but should work.
Note 'apt list libtorrent-rasterbar10' shows v1.2.15, so latest 1.2.x installed correct as per the PPA, so the 1.2.4 returned previously from libtorrent python-module import-test must've been version of the pypi forked python-bindings and not main lib, i'm presuming here. Would be nicer having matching versions though(I haven't checked if even linked, or static, though).
Edit: Still haven't found reason

Cas has added libtorrent 1.2.x to his deluge-develop PPA, so don't need additional libtorrent 1.2-daily PPA(remove with 'sudo add-apt-repository ppa:libtorrent.org/1.2-daily -r'), though I also tried through that, and same scenario i.e. cannot import - I also installed python3.7 and made default for python3 and reinstalled, but still same story, though pypi libtorrent then atleast becomes a possibility(as pre-built wheels py3.7+ - need remove apt version first, to install however).
Edit2: Don't have more time now for this, will look more into it tomorrow - maybe to old boost I'm thinking, I believe was 1.65(not at my computer now) , and not sure supported, but will check tomorrow. Also, the posted workaround I repeated here, lbry-libtorrent from pypi, probably is "standalone" so not even using/needing apt's libtorrent-rasterbar10, so probably is ibtorrent 1.2.4 afterall(and not just binding-version, as libtorrent.version queried afterall, but don't understand how then can be none/any for wheel py-version, but will check with ldd tomorrow). Anyway atleast fulfills requirement of min 1.2, so quick/easy workaround for now.
Edit3: Still not time today yet, but finally found its
github on my phone, as not listed on pypi - the github-actions yaml file seemingly reveals static 3.7 build, using boost 1.70 or above(removed, but specified in previous commits), and libtorrent build docs states boost 1.69+ needed, so probably that. Strange works on py3.6, as on windows had to rebuild upon such, well that was in upped not lower py-ver though, but still states "any", so probably different on Linux. Will find out this evening for sure probably(I'll probably build a 18.04 wheel of 1.2.15 and post here, till fixed).