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Author Topic: Is this the beginning of the endgame for Amit Bhardwaj?  (Read 370 times)
Rotten Egg
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March 19, 2018, 06:05:57 PM
Merited by amishmanish (2)
 #1

Maharashtra MoS for home Ranjeet Patil said that the ED would be asked to probe allegations that @amitbitcoin & GainBitcoin had swindled investors of ~Rs 2,000 Cr through Bitcoin Ponzi schemes–by far largest such scam in India involving #Crypto, if proven.

Tweet: https://twitter.com/factordaily/status/974169339942223873 ( http://archive.is/pe1OB )

Full Story: https://factordaily.com/amit-bhardwaj-aashish-dabas-gainbitcoin-gb21-ed-investigation/ ( http://archive.is/9A6Ec )

Amit Bhardwaj: https://en.wikipedia.org/wiki/Amit_K._Bhardwaj ( http://archive.is/ZBHpf )


A copy of the FIR against Amit Bhardwaj filed in Maharashtra with some details redacted


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March 20, 2018, 03:17:56 AM
 #2

This is good news. The ED typically looks into the financial fraud cases. Going by its record, it can be slow but it'll eventually do its job.

The article talks about some important points that is:

Bhardwaj has fled to Dubai, which was known for sometime now.
He has started another Ponzi by the name GB21 now. One Ashish Dhabas seems to be the face/ fall-guy for this now.
They are marketing it in places like Indonesia and other SE Asian countries

There have been cases where early investors have been threatened by unknown people not to discuss their losses from the gainbitcoin schemes. It should be seen whether the FIR takes cognizance of this or not. Hope law catches up to these frauds. They have played a major role in giving cryptocurrencies a bad name in India.

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July 20, 2018, 06:46:58 PM
 #3

Here is an update on this news.

Bitcoin ponzi king Amit Bhardwaj offers INR to victims; Zebpay joins investigation



Arrest video: https://www.youtube.com/watch?v=CMcesVc9_Ek


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January 31, 2019, 01:32:24 PM
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The saga of Amit Bhardwaj of GainBitcoin continues...

Supreme Court Orders Respondents to File Their Counter Petition Against Amit Bhardwaj

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January 31, 2019, 02:05:21 PM
Last edit: January 31, 2019, 02:42:19 PM by tmfp
 #5

The saga of Amit Bhardwaj of GainBitcoin continues...

A few things were to be expected:
1) Bhardwaj still has access to considerable stolen funds
2) He will use those stolen funds to exploit every legal and quasi legal avenue to delay and frustrate justice
3) The Indian Judicial system moves slowly
4) The grey area of existing legislation and its application to crypto related fraud will aid him in this process
5) Money talks

Have there been any more associated arrests made? He didn't recruit and lie to every victim personally.
Has there been any retribution visited upon the hustlers, liars and chancers who promoted and profited from his scam at local levels?
Any idea on any progress with the rest of the"Seven Stars", at least?

Mahendra Kumar
Vivek Kumar
Ajit Kumar
Manu Sharma
Rupesh Singh
Ashish Dabas

I would particularly like to see the dentist Dabas get filled in.

For anyone wanting more background, here's a link to the original BCT thread on the subject of the GainBitcoin ponzi run by Bhardwaj/Kumar, where we called him out as a scammer and his scheme as a Ponzi way back in June 2016


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August 27, 2019, 06:57:43 PM
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The saga of Amit Bhardwaj of GainBitcoin continues...

A few things were to be expected:
1) Bhardwaj still has access to considerable stolen funds
2) He will use those stolen funds to exploit every legal and quasi legal avenue to delay and frustrate justice
3) The Indian Judicial system moves slowly
4) The grey area of existing legislation and its application to crypto related fraud will aid him in this process
5) Money talks

Bhardwaj is now out on bail.

https://inc42.com/buzz/breaking-supreme-court-grants-bail-to-amit-bhardwaj-in-bitcoin-ponzi-scheme/


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