Mumbai: The Central Bureau of Investigation (CBI) has commenced an extensive probe into the ₹6,600 crore Bitcoin scam in Maharashtra, following directives from the Supreme Court. The scam, which has shocked investors and the cryptocurrency community, involves high-profile allegations of fraud, political misuse of funds, and an intricate web of cybercrime.
CBI Registers Case Against Main Accused
The CBI has named Amit Bhardwaj and Ajay Bhardwaj as the primary accused in the scam. While Amit Bhardwaj, a controversial figure in the cryptocurrency industry, passed away due to a heart attack, his brother Ajay remains on the run. The agency has intensified efforts to locate him. Additionally, another accused, Gaurav Mehta, has been summoned to appear before investigators.
The case initially surfaced after the Enforcement Directorate (ED) accused the Bhardwaj brothers of defrauding investors through dubious Bitcoin investment schemes. FIRs were registered across Delhi, Pune, and other locations, leading to the CBI’s involvement.
Political Allegations Add Fuel to the Fire
The scandal took a political turn when former IPS officer Ravindranath Patil alleged that funds from the 2018 cryptocurrency fraud were misappropriated for the Maharashtra Assembly elections. He named Supriya Sule and Nana Patole in his accusations, claiming they had misused the siphoned funds. Patil also implicated then-Pune Police Commissioner Amitabh Gupta and Deputy Commissioner of Police Bhagyashree Nautke for allegedly covering up the fraud during the initial investigation.
BJP Releases Explosive Evidence
Adding to the controversy, the BJP escalated the issue with a press conference led by spokesperson Sudhanshu Trivedi. The party presented an alleged audio recording of conversations between a dealer, Amitabh Gupta, Supriya Sule, and Nana Patole. WhatsApp chat screenshots were also shared, accusing Sule and Patole of embezzling ₹235 crore through Bitcoin transactions.
In response, Supriya Sule dismissed the allegations as baseless and politically motivated. She filed complaints with the Election Commission and Cyber Crime authorities, calling for a thorough investigation into the claims.
Scam’s Origins and Magnitude
The alleged scam, rooted in fraudulent Bitcoin investment schemes, duped thousands of investors with promises of lucrative returns. Amit Bhardwaj, known for launching platforms like GainBitcoin, was already under scrutiny for running Ponzi-like operations in the cryptocurrency market.
CBI’s Next Steps
The CBI has prioritized the investigation, focusing on tracking Ajay Bhardwaj, verifying the evidence presented by political parties, and identifying other potential collaborators. The agency’s probe aims to uncover the extent of the scam and the role of public officials and politicians in the misuse of funds.
Cryptocurrency Fraud: A Growing Concern
The case highlights the growing challenge of regulating cryptocurrencies in India. While the government debates the legal framework for digital currencies, scams like these underline the urgent need for stricter oversight to protect investors.
The investigation is expected to unearth more details in the coming days, potentially implicating additional high-profile individuals and organizations.
