RATE Group | Former Legislator Remanded in Custody in Connection With Bitcoin Extortion Case
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Former Legislator Remanded in Custody in Connection With Bitcoin Extortion Case

11 Sep Former Legislator Remanded in Custody in Connection With Bitcoin Extortion Case

Posted at 06:59h in Bitcoin News by

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Nalin Kotadiya, a Bharatiya Janata Party (BJP) official and former Member of the Legislative Assembly (MLA), has been remanded in custody for ten days in connection with a $1.3 million Bitcoin (BTC) extortion case, the Times of India reported September 10.

A special anti-corruption court has reportedly remitted Kotadiya in police custody for a ten day custodial interrogation after he was arrested by the city crime branch and the Criminal Investigation Department (CID). Kotadiya was allegedly involved in a $1.3 million BTC extortion case.

In April, the CID began investiging the reported kidnapping and extortion of 200 BTC from an Indian businessman and builder Sailesh Bhatt. Bhatt accused Central Bureau of Investigation (CBI) officer Sunil Nair and other policemen of beating him until he paid a ransom of around $770,000 in February.

After he was released, Bhatt was allegedly kidnapped and taken to a farm where he was forced to send 200 BTC to former business partner Kirit Paladiya….

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