CBI Intensifies Probe into Multi-Billion Bitcoin Scam

The CBI has summoned Gaurav Mehta in connection with the Rs 6,000-crore Gain Bitcoin ponzi scam. Linked to various state investigations, the scam involves multi-level-marketing schemes. Mehta's connections with politicians and bureaucrats are under scrutiny, following searches by the ED and previous allegations of Bitcoin misappropriation.

The Central Bureau of Investigation (CBI) has called upon Gaurav Mehta, an auditor, to assist in probing the massive Rs 6,000-crore Gain Bitcoin ponzi scam, upon the Supreme Court's directive. Mehta is expected to present himself to the inquiry officer promptly, CBI officials confirmed.

The Gain Bitcoin scheme, which promised lucrative returns, involved multitude cases filed by state police, notably from Maharashtra and Delhi. It implicated Variable Tech Pte Ltd and figures like Late Amit Bhardwaj and Ajay Bhardwaj. They allegedly amassed about Rs 6,600 crore in crypto investments by deceiving investors in 2017 with false promises of high returns.

Following the Enforcement Directorate's mapping of a political trail involving Mehta and further alleged Bitcoin misappropriations worth crores, the CBI's move comes at a crucial juncture. Former IPS officer Ravindranath Patil, under arrest in a related fraud, suggested in a complaint that these cryptocurrencies influenced significant electoral processes in India.

(With inputs from agencies.)