Let me tell you the meaning of Bitcoin first. Bitcoin is the world’s first crypto currency. Also, it is the first digital currency. With the help of this crypto currency, people send or receive money from corner to corner through the internet, even to the strangers or to whom they don’t trust. In other words, it is a type of electronic cash where there is no need of financial mediator.
Numerous names of celebrities come up at the time of questioning by the Enforcement Directorate. Businessman and Bollywood actress Shilpa Shetty’s husband Raj Kundra has been summoned at the Enforcement Directorate office. He has been questioned for around nine hours related with alleged Bitcoin scam case worth Rs 2000 crore by the Enforcement Directorate. And the inspector recorded his statement with regard to the Rs 2,000 crore Bitcoin cryptocurrency fraud case. The Pune police also would inspect that is Raj Kundra has any connection in this case.
However, Investigators have not yet found any solid evidence in opposition to Raj Kundra who is a businessman and a husband of Bollywood actress Shilpa Shetty, related to the Rs 2,000 crore Bitcoin cryptocurrency fraud case, said by The Cyber Crime officials of Maharashtra’s Thane Police.Raj Kundra, who has been supposed to be a part of the Bitcoin cryptocurrency scam, he may proof innocent in the said case. The surprise part in this is that his name is not mentioned in the supplementary chargesheet. Even Manisha Zende, Investigating Officer and Cyber Cell Inspector expressed in The Times of India that ‘they have not find any concrete evidence opposed to Entrepreneur Raj kundra. Furthermore, after the inquiry, Cyber Cell Inspector has still not found any business transactions of Raj kundra with Amit Bharadwaj.
The agency has questioned Raj Kundra about other people involved to encourage Bitcoin. According to sources, numerous Bollywood celebrities have also come up during the questioning by the agency. Celebrities that come across during the investigation are– Sunny Leone, Prachi Desai, Aarti Chhabria, Sonal Chauhan, Karishma Tanna, Zareen Khan, Neha Dhupia, Huma Qureshi and Nargis Fakhri. Apart from the above celebrities, the agency may also question Raj Kundra’s wife Shilpa Shetty.
Currently, The Income Tax Department sent notices to Bitcoin users who were dealing in Bitcoins worth Rs 1 crore or more daily. Raj Kundra’s name caught up when Amit Bharadwaj was being questioned.
Amit Bharadwaj, a Pune-based businessman and the owner of Bitcoin business, was arrested six months ago from the Indira Gandhi International airport in New Delhi. Apart from Amit Bharadwaj, his brother Vivek Bhardwaj was also arrested from the Delhi Airport on their arrival from Bangkok. The celebrities promoted his Bitcoin Company. He had ditched people to invest in Bitcoin for 18 months and in return, assured them the profit of 10 percent. People registered the complaints against it when they realized that they did not receive the promised money.
According to the reports, total, 8,000 people had ditched by Bitcoin scam throughout the country. And, Amit Bharadwaj is involved in the scam of total 2,000 Crore in Indian currencies. Total 227 investors filed complaints in relation to this Bitcoin scam in Pune. Also, Around 10 people blamed for this Bitcoin cryptocurrency scam case including Amit Bharadwaj and his brother, Vivek Bharadwaj, who have been already arrested. Seven others had been arrested by the police who were included in Bitcoin cryptocurrency scam case. The names of seven other people are Pankaj Srinandkishore, Hemant Babasaheb Chavan, Hemant Vishwas, Ajay Tanaji Saheb, and Chandrakant Bhope. Few weeks ago, Darwin Labs founders Sahil Baghla and Nikunj Jain who was a former Frankly.me founder and an angel investor, were arrested in connection with the Bitcoin cryptocurrency fraud case. Additionally, father and brother of Amit Bharadwaj are in the wanted list in the said case.
At present, Amit Bharadwaj is in imprisonment in Kolkata police in connection to a Bitcoin case registered there. The rest are stuck in Yerawada jail. They were arrested from Pune. Overall, there are 46 witnesses who have been listed in the chargesheet.
Sudhir Hiremath who is a Deputy Commissioner of police (cyber & economic offences), found out the technique of Amit Bharadwaj and the other accused people. He mentioned that their aim was to lured investors by commiting profitable returns in favor of investment in Bitcoin crypto currency. Amit Bharadwaj and his brother Vivek Bharadwaj, started a Tech firm in Singapore in 2013 because Bitcoin Crypto currency is legal in Singapore so they registered the gainbitcoin.com website under this firm in April 2015. They targeted people by attracting them to invest in Bitcoins provided that the investors will get extravagant returns after investing in Bitcoins. Also, they created some promotional events and using Bollywood celebrities as brand ambassador to lure investors as well as Amit Bharadwaj arranged few eye-catching gift proposals.
Sudhir Hiremath also declared that the accused people had shown lots of returns to investors on gainbitco.in website in the beginning period and persuaded the investors to carry on with their investment and also lured them to reinvest more to get more returns. They also made a plan to engaged investors to keep promoting Bitcoin and giving reference in order to get some proportion of money from the other investors. Moreover, they also made a scheme where people will use their complete amount including the profits after 6 months locking period from the investment date.
The time came when the investors demanded their accurate money including profits then the accused people close down the gainbitco.in website and moved to another cryptocurrency which they named MCap. Their planning was to again deceive the investors by registering another website i.e. GB21 so that they could raise some more money. They invested the money which they get from the investors. They spent some money in new business enterprises in Dubai, Hong Kong, Estonia, British Virgin Islands and USA and used rest money in properties in plush towers in Dubai.
You may also like to read : How To Apply The Passport Online with mPassport Seva Mobile App.