CBI Unravels Bitcoin Ponzi Scheme Involving Rs 6,600 Crore

The CBI has registered an FIR and launched a probe into a Bitcoin-based Ponzi scheme allegedly collecting Rs 6,606 crore in funds. Key figures linked include Amit Bhardwaj, Ajay Bhardwaj, and Simpy Bhardwaj, with illicit investments funneled overseas. Properties worth Rs 69 crore are already attached by ED.

The Central Bureau of Investigation (CBI) is delving into a high-profile Bitcoin Ponzi scheme, filing a First Information Report (FIR) against Amit Bhardwaj, Ajay Bhardwaj, and others. The probe accuses these individuals of amassing 80,000 bitcoins and channeling funds equivalent to Rs 6,606 crore through international firms to acquire foreign properties, according to sources.

In a related move, authorities have summoned Gaurav Mehta to assist in the investigation. The investigation follows the Enforcement Directorate's (ED) arrest of Simpy Bhardwaj last year under the Prevention of Money Laundering Act (PMLA), 2002, due to her alleged connection to the Gain Bitcoin Ponzi scheme.

The ED launched its probe based on multiple FIRs filed by the Maharashtra and Delhi police against various individuals, alleging the fraudulent collection of Rs 6600 crore in Bitcoin. The accused reportedly lured investors with promises of high returns, later diverting proceeds to overseas ventures and property acquisitions. Investigators have confiscated assets worth Rs 69 crore linked to the scam.

(With inputs from agencies.)