CBI's Cryptocurrency Crackdown: Gaurav Mehta in the Spotlight

The Central Bureau of Investigation (CBI) summons Gaurav Mehta over his alleged involvement in the Rs 6,600-crore Gain Bitcoin scam. The case, linked to political figures in Maharashtra, involves multi-level marketing promises with a cryptocurrency spin. Mehta's name emerged during Maharashtra's election, sparking increased scrutiny and investigations.

The Central Bureau of Investigation (CBI) has issued a summons to Gaurav Mehta, an employee of an audit company, regarding the Rs 6,600-crore Gain Bitcoin ponzi scam. This move comes after Mehta's name surfaced in tapes linking political figures to cryptocurrency encashment discussions amid Maharashtra elections.

Officials reported that the Supreme Court had instructed the central probe agency to take over cases against Variable Tech Pvt Ltd, related to the scam, last year. Consequently, the CBI has combined multiple FIRs for a comprehensive investigation.

The investigation intensified following Enforcement Directorate raids at Mehta's residence in Chhattisgarh. Allegedly, Mehta possesses misappropriated Bitcoins, potentially used in the Maharashtra Assembly and previous Lok Sabha elections, an accusation fiercely denied by implicated political leaders.

(With inputs from agencies.)