Amit Bhardwaj, accused in the Ponzi scheme, and founder of GBminers and Gainbitcoin, he has been respondent of fooling thousands of investors with promises of unrealistic returns on bitcoin investments.
He has announced that he will pay back the initial investments in Indian rupees to those who lost money by Ponzi scheme.
The police complaints are filed in various regions as like Pune, Mumbai, Nanded (Maharashtra), Kolkata, Delhi and other cities. one of the victims said that they want the returns in current cryptocurrency worth, not the value of cryptocurrency when they invested.
Today the value of cryptocurrency has increased, this value is much higher than what it was when they invested. They also said that Amit Bhardwaj will keep the profits and just return the principal amount which is wrong.
Challenge Recovering Crypto
Nationalist Congress party member Hemant raised the issue of bitcoin recovering and the inability of the police to nab the remaining absconders in the case during an assembly session held last week. He said that Victim from Ponzi Schemer Amit Bhardwaj should get current bitcoin value.
During deliberating in assembly, 13th Maharashtra legislative Assembly member Deepak Kesarkar said that the Some of this amount is recovered by the police department through the e-wallets of these companies. The value of these digital currencies in the wallet will be recovered but it is difficult to recover the investment made in foreign companies.
The Indian state of Maharashtra assembly promulgates that starting make a special Investigation Committee which will investigate every case related to cryptocurrency, one step to follow RBI’s crypto banking ban.