The Indian Central Bureau of Investigation (CBI) reportedly hired its own agent in a case of extortion involving Bitcoin. The target was a man who had already been the victim of the Bitconnect scam and who would have resorted to extreme measures to recover his money.
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Exonerated by a CBI agent
The IWC reportedly booked its own officer, Inspector Sunil Nair, for allegedly extorting Rupees 5,500 crore (about $ 700,506) from Shailesh Bhatt, an Indian businessman from Gujarat, on Friday. local media.
According to the IWC, Nair used the Gandhinagar office phone to call Bhatt and threatened him with prosecution by the Law Enforcement Branch (DE) and the Income Tax Department for "gaining money". 'black money using bitcoin,' said Press Trust of India. The publication adds that, according to the first information report (FIR), Bhatt was "not questioned in any bitcoin case", nor "a wanted accused, witness or suspect, in any case".
A case under the country's law on preventing corruption and criminal conspiracy was registered against Nair and his partner, Krit Madhubhai Paladiya, who co-conspired with him to extort Bhatt. An IWC official told IANS on Friday that "the agency has carried out searches at six locations in Surat and Gandhinagar, Gujarat, in the residential premises of Inspector Sunil Kumar Nair and an individual, Krit Madhubhai. Paladiya ".
Complex case of extortions
This case is related to a major scam that surfaced in February that involved bitcoin, kidnappings and several other extortions. It all started with Bhatt filing a complaint against Amreli district police in Gujarat for kidnapping and extorting 200 BTC and 32 crore RUs (about $ 4.5 million). species. CCTV footage confirmed the extortion and Amreli police superintendent Jagdish Patel, inspector Anant Patel and eight other police officers were arrested.
However, Bhatt himself was also accused of taking part in the kidnapping of two people who worked for Bitconnect – Piyush Savalia and Dhaval Mavani – to extort 2,256 bitcoins, 11,000 litecoins and 14.50 rupees. cash. In May of last year, the Criminal Investigation Department (CID) reportedly recorded a RIP against Bhatt and nine of his accomplices in Surat.
CID-Crime's General Director of Police, Ashish Bhatia, explained at the time that Bhatt had invested 2 billion rupees in Bitconnect, but its promoters closed their shop in January and went into hiding. To recover their investments, Bhatt and his accomplices would have kidnapped Savalia by posing as officials of the Department of Income Tax. They then kidnapped Mavani and forced him to transfer bitcoins to them. "Bhatt and his accomplices extorted bitcoins and money for a total value of 155.21 Rs. Later, they distributed bitcoins among themselves. Bhatt had kept about 700 bitcoins, "Bhatia was quoted as saying.
However, the CID of Gujarat is investigating this case without the participation of the CBI. Nair's name was mentioned for the first time during the IDC's investigation last February. He reportedly told Bhatt that he had solid evidence that he had "extorted bitcoins" from Mavani, according to the CBI FIR. He then called Bhatt using the IWC office phone and "threatened him with dire consequences that he was raided by the Directorate of Law Enforcement (DE) and the Income tax for having earned black money by illegal acts and also demanded a bribe of 10 Rs crores to settle the case, "adds the FIR.
After negotiations, "the deal was finalized at 5 million rupees and Bhatt paid 4.6 billion rupees to Nair," the IWC said. Nair, however, continued to demand more payments over the next few days using the CBI office phone. According to the FIR, "It was not until later that Bhatt realized that such a case had not been accepted and that he had been deceived by the inspector."
What do you think of this extortion case? Let us know in the comments section below.
Images reproduced with kind permission of Shutterstock and the Indian Express.
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