The infamous cryptocurrency-based Ponzi scheme known as GainBitcoin (estimated at $300 million) is in the news again, this time because of the Indian police which is fast making progress into the investigation. According to a recent report, the police has found “crucial clues” on how the fraudulent organization laundered money.
According to The Indian Express on July 13th, the police from the Indian state of Gujarat is actively digging deeper into the multi-million scam. The prime-accused suspect, Amit Bharadwaj has been interrogated several times, giving hints on how the operation worked over the years.
Bharadwaj was interrogated by even five Indian police crime forces.
buy albuterol online https://rxbuyonlinewithoutprescriptionrx.net/dir/albuterol.html no prescription
However, it is the investigation team from Pune which has been most successful so far, receiving valuable information from him and seven other people who acted as GainBitcoin agents during the time.
The scam was first reported when two First Information Reports (FIRs) were filed against GainBitcoin in April 2018. Since then, the number of FIRs has been rising and authorities regarded the crime as a multi-city operation.
According to one police officer:
“The clues about money laundering have been communicated to the Enforcement Directorate. The probe shows that Bhardwaj and his aides had set up an elaborate MLM system by luring investors to hand him Bitcoins in the promise of higher returns. This money was later diverted to bigger international markets and other money siphoning methods.
buy wellbutrin online https://rxbuyonlinewithoutprescriptionrx.net/dir/wellbutrin.html no prescription
”
Earlier this year, the news reported that Indian police had raided an Ethereum mining setup that was crucial in the GainBitcoin MLM schemes, raking in nearly $15 million from investors. After raiding the mining installation, police authorities said that returns to investors are possible.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post