A person who extorted round $146 million from BitConnect scammers has been arrested in Ahmedabad, Gujarat.
Shailesh Bubulal Bhatt was a BitConnect investor who invested $293,000 into the rip-off.
To keep away from taking a loss when BitConnect collapsed in early 2018, Bhatt (proper) took issues into his personal fingers.
As per prison expenses filed in opposition to Bhatt below India’s Prevention of Cash Laundering Act;
[Bhatt] kidnapped two of Kumbhani’s workers and extorted 2,091 Bitcoins, 11,000 LiteCoins and Rs 14.50 crore in money to launch them.
“Kumbhani” refers to BitConnect’s founder, Satish Kumbhani (proper).
After paying off his accomplices to the tune of ~$34.4 million, Bhatt spent the extortion proceeds on real-estate, gold and “different property”.
Again in 2018 Bhatt filed a prison grievance of his personal, alleging Amreli cops had kidnapped and extorted $1.3 million out of him.
Bhatt was arrested on August thirteenth and after being offered earlier than court docket, was remanded to the custody of the Enforcement Directorate.
Satish Kumbhani has been arrested twice by Indian authorities however each instances was launched on bail.
After being launched, Kumbhani promptly fled the nation. Following his second 2019 arrest, Kumbhani is believed to have once more fled to Dubai.
Kumbhani stays needed by Indian authorities. He has additionally been indicted within the US and has an open arrest warrant out on him.