India's Enforcement Directorate arrests Shailesh Bhatt in a cryptocurrency extortion case linked to Bitconnect Coin fraud.

India's Enforcement Directorate (ED) has arrested Shailesh Babulal Bhatt in connection with a cryptocurrency extortion case involving over Rs 1,200 crore. The case began with complaints filed against Satish Kumbhani, promoter of Bitconnect Coin, who allegedly defrauded investors between 2017 and 2018. Bhatt, who invested in Kumbhani's schemes, kidnapped two employees to extort 2,091 Bitcoins, 11,000 LiteCoins, and Rs 14.5 crore in cash. The ED has so far attached assets worth Rs 442 crore connected to the case.

August 17, 2024
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