Ahmedabad: Even as the deeper layers are being revealed in the fraudulent activities that were being conducted under the garb of Bitcoin trading, the CID Crime is contemplating on filing fresh charges in the Bitcoin case. The CID wants people who were cheated into investments in cryptocurrency running into crores to come forward and provide the names and register complaints against the accused. The CID Crime has already registered two cases, one where Surat-based realtor Shailesh Bhatt complained of extortion of Bitcoins worth Rs 12 crores from him and a second complaint where the complainant Bhatt himself is accused of looting Bitcoins worth Rs150 crores from someone.
After the November 2016 demonetization, only 4-5 major players like Satish Kumbhani were dealing in the cryptocurrency and earning good returns. They lured in several businessmen, political leaders, realtors and even religious institutes to invest their black money into cryptocurrency. If sources are to be believed, cryptocurrency investments from Surat itself accounted to Rs 80 crores. Most of the investors in cryptocurrency are Saurashtra-native residents of Surat city. Not only do they invest their own money into it, but also convince people from their natives to put in their money too. A recent raid on Bhavnagar-based firm, Madhav Outsourcing by the Income Tax department revealed bitcoin transactions worth Rs 100 crores. When the CID arrested Dilip Kanani, it seized bitcoins worth Rs 9 crores from him. It is believed that he monetized a major chunk of the cryptocurrency, and used it to buy property in Varachcha in Surat, the documents of which are now in possession of the CID.
Everyone was taken by shock when PM Narendra Modi had announced the demonetization of currency notes of the value of Rs 500 and Rs 1,000. But in 2015, Gujarat chief minister Anandiben Patel’s daughter Anar had participated in an event in Ahmedabad by Zebpay called ‘The Future of Money’ where it promoted the usage of Bitcoins in financial transactions. This despite the fact that trading in Bitcoins is not considered legal.