Bharadwaj brothers remanded in judicial custody for GainBitcoin cryptocurrency fraud
They are the main suspects in the case wherein 8,000 investors have been allegedly duped of crores of rupees between June 2017 and January 2018 over attractive returns on investment in cryptocurrency.
Special judge JT Utap, on Wednesday, remanded Amit and Vivek Bharadwaj , masterminds of the multimillion GainBitcoin cryptocurrency fraud, in judicial custody.
The Bharadwaj brothers, who are the founders of GainBitcoin company, are the main suspects in the case wherein 8,000 investors have been allegedly duped of crores of rupees between June 2017 and January 2018 over attractive returns on investment in cryptocurrency.
Forensic investigations into the bitcoin case by the economic offences wing (EOW) and cyber cell of the Pune police has revealed that the alleged bitcoin scam masterminds, Amit Bharadwaj and Vivek Bharadwaj, were in possession of 82,132 bitcoins and operated 84,617 user ids.
Ujjwala Pawar, the government pleader in the case, made the disclosure before JT Utpat, special judge at the Shivajinagar court, on Friday. Following the submission by the government pleader and the defence counsel, Utpat extended the Bharadwaj brothers’ police custody till May 3.
The cyber crime cell of Pune police had earlier declared that the cryptocurrency, demand drafts, and other financial seizures from GainBitcoin mastermind Amit Bharadwaj till date is estimated to be worth ₹15 crore.
The seizure comprises 237 bitcoins, 90 Etherium and a demand draft (DD) worth ₹38.93 lakh. Cyber cell officials further said that 73 witnesses have been examined in connection with the case and that investor fraud to the tune of ₹7 crore has been unearthed so far.
