RATE Group | Indian Authorities Nab High-Profile Bitcoin Scammers
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Indian Authorities Nab High-Profile Bitcoin Scammers

27 Aug Indian Authorities Nab High-Profile Bitcoin Scammers

Posted at 01:47h in Bitcoin News by

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As India still remains uncertain regarding its regulatory framework for digital currency operations, a number of high-profile fraud cases involving Bitcoin have come to light. Police authorities from the Indian State of Chandigarh recently arrested Amit Bharadwaj for his role in a multicrore Bitcoin scam, reports local publication The Indian Express. 

According to the Chandigarh police, three investors have lodged a complaint against Amit for duping them of nearly 15 crores. Amit, his younger brother Vivek Bharadwaj, Pankaj Adhlakha, and Hemant Bhope have received arrest warrants from the Tihar jail and will be kept in the Chandigarh police’s custody for four days. The four accused are currently under the interrogation of India’s cyber crime cell.

The Plot to Trick Investors

An anonymous investor reveals details about how Amit and co. tricked them into this scheme. The accused set the plot by throwing lavish parties in popular cities across the country and luring…

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