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November 24, 2018, 02:50:41 AM |
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Chandigarh, a northern Indian State has become the witness for one of the biggest cryptocurrency scams in the country. The Chandigarh Police has filed a chargesheet against four people accused of scamming a victim out of ₹6-10 crore ($0.8 – 1.4 million) through a digital currency investment fraud.
The names of accused people are Vivek Bhardwaj, Amit Bhardwaj, his brother, Hemant Bhope and Pankaj Adlakha. According to the reports, an earlier chargesheet against two men alleged to have “direct links” with A. Bhardwaj had been filed in Delhi.
As of now, the chargesheet spans over 1,800 pages with 15 complains and 27 witnesses. A. Bhardwaj is considered as the leader behind this scam with an alleged fraudulent GainBitcoin crypto company which is a cloud-based platform for trading and mining Bitcoin (BTC).
Also, his brother, Mr. V. Bharadwaj, is accused of being promoting, and marketing as a spokesperson for the firm. Mr. Adlakha has been charged for his role as a promoter, and Mr. Bhope for being GainBitcoin’s secretary and “motivational speaker.”
The accused will be appearing for a hearing on Dec. 4, while the court will be issuing “challan” (document) charging finalized and written. According to the reports, the challan pegs the alleged fraud at six crore rupees; the scam amount exceeds ₹10 crore (around $1.4 million).
Previously, in April. 4, Bhardwaj brothers were arrested for frauding around 8,000 investors out of ₹2,000 crores (about $300 million) via the GainBitcoin scheme. GainBitcoin is a firm co-founded by Bhardwaj brothers. The firm is considered as a Ponzi scheme that guaranteed 10 percent monthly returns within 18 months. The report also mentioned that two brothers have been taken to Pune jail.
Recently, two founders of India’s first cryptocurrency exchange, Unocoin, were arrested for launching a Bitcoin ATM going against the country’s regulations for cryptocurrencies.
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