LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

ED to Probe Scam Duping Investors Through Bitcoin Ponzi Scheme

BJP MLA Ashish Shelar told reporters outside the Assembly that some companies allegedly lured people from Nanded and other areas to invest in Bitcoins, while promising higher returns.

PTI

Updated:March 14, 2018, 3:26 PM IST
facebookTwittergoogleskypewhatsapp
ED to Probe Scam Duping Investors Through Bitcoin Ponzi Scheme
India said it would "take all measures to eliminate" cryptocurrencies' use as part of a payment system and in funding illegitimate activities. (photo for representation, image: Reuters)
Loading...
Mumbai: The Maharashtra government on Wednesday said the Enforcement Directorate (ED) would probe the alleged scam of duping investors to the tune of Rs 2,000 crore with Ponzi marketing schemes through the GainBitcoin website.

In this connection, a lookout notice has been issued for GainBitcoin founder Amit Bhardwaj, who has fled the country, Minister of State for Home Ranjit Patil said.

A case was also filed at a police station in Nanded on January 24, 2018 in connection with the scam, he said.

Patil was replying to a discussion on the issue raised through a Calling Attention notice by Rahul Kul (of the Rashtriya Samaj Paksha) and others.

"The matter of duping of several investorswith Ponzi schemes through Gainbitcoin website would be probed by the ED," the minister said.

He said Bhardwaj and his associates allegedly duped investors to the tune of Rs 2,000 crore in Mumbai, Pune, Nanded, Kolhapur and other places in the state.

"The main accused, Bhardwaj, has fled the country and a lookout notice has been issued for him," he said.

Another accused, Amolkumar Thombale, has been arrested while two other accused - Balaji Panchal, Raju Motewar - are absconding, he said.

The police has sealed the bank accounts of the accused and also seized Rs six crore, Patil added.

BJP MLA Ashish Shelar told reporters outside the Assembly that some companies allegedly lured people from Nanded and other areas to invest in Bitcoins, while promising higher returns.

"The owners of these companies are now on the run and investors feel cheated," he said.

"There should be a thorough inquiry by the Enforcement Directorate in the matter," Shelar said.

Kul said Bhardwaj had formed the company and invited investments in Bitcoins.

"As per my estimates, he has gone abroad and Rs 2,000 crore of thousands of investors are stuck," he alleged.

The company's directors also allegedly transferred the investors' money into their own accounts, which is illegal, Kul said.

Kul represents the Daund Assembly constituency in Pune district and his party is a part of the BJP-led government in Maharashtra.

Catch the Biggest Newsmakers and the Biggest Newsbreaks on CNN-News18, your favourite English TV news channel. Keep watching CNN-News18 at just 50 Paise per Month. Contact your cable /DTH operator Now!
*Rental / capacity fee of Rs.130/- as charged by cable / DTH operator may apply. **GST extra.

| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Sun Pharma 433.30 3.43
Reliance 1,233.00 -0.17
ICICI Prudentia 308.80 -10.49
Yes Bank 198.20 3.12
Mindtree 919.90 -0.13
Company Price Change %Gain
Sun Pharma 433.70 3.74
Hathway Cable 31.60 2.76
Bombay Burmah 1,264.00 3.58
Yes Bank 198.10 3.12
Supreme Ind 1,069.00 2.12
Top Gainers
Company Price Change %Gain
Sun Pharma 433.30 3.43
Zee Entertain 438.35 3.08
Yes Bank 198.25 3.15
Wipro 354.95 2.44
UPL 774.10 1.41
Company Price Change %Gain
Sun Pharma 433.70 3.74
Yes Bank 197.95 3.05
Tata Steel 463.45 1.46
HUL 1,773.60 1.35
Bajaj Finance 2,645.20 1.09
Top Losers
Company Price Change %Gain
Grasim 794.85 -1.18
Infosys 738.20 -0.96
TCS 1,884.95 -0.89
HDFC 1,961.10 -0.92
Titan Company 973.35 -0.95
Company Price Change %Gain
HDFC 1,961.40 -1.07
Infosys 738.25 -0.82
Hero Motocorp 2,804.90 -0.67
TCS 1,887.90 -0.66
NTPC 141.90 -0.63

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results