Nanded police while examining one of the first three cases in the bitcoin multi-level marketing scam of thousand crores, has said that the inquiry of the main accused Amit Bhardwaj and the subsequent investigation has been imposed on how money was imposed outside India. Bhardwaj, who has been questioned by the police from Nanded, Kolkata, Pune, Thane and Chandīgarh. The first week of April after landing at Delhi airport from Bangkok where he has been arrested by the Pune investigation team. The Pune forces had arrested seven people who had represented as agents with a motivational speaker.
The two different FIRs have been recorded at Datta wadi and Nigdi police stations n Pune, whereas another case was recorded with police, in which a doctor is plaintive. The Enforcement Directorate listed an enforcement case inquiry report (ECIR) equivalent to FIR on the basis of FIR recorded with Nanded and Pune Police in May. Bhardwaj, his colleagues and the company was against by ECIR.
After interrogation by Pune forces, their team got Bhardwaj’s custody. “Based on the inquiry and the following investigation, we have received important indications about these racketeers and how they parked the money in China, Hong Kong, Dubai where their company already had a crypto-currency mining business,” officially said by Nanded police forces. They said that two more suspects arrested in the first week of July.
“Clues about money laundering have been reported to the Administration Directorate.” The inquiry shows that Bharadwaj and his colleagues had set up an elaborate MLM system by luring them to transfer bitcoin in the promise of higher returns. The official said, “This money was later changed to large worldwide markets.”
The total amount of fraud in which more than 8,000 people across India have been deceived, they are estimated to be above Rs 5,000 crore.