The Directorate of Enforcement (ED) attached $60 million worth of assets in connection with its probe against Amit Bhardwaj in the alleged Bitcoin Ponzi fraud of $5.26 billion.
The Indian law enforcement agency has attached immovable properties of the owner of GainBitcoin.com, including six offices in Dubai and the residential apartments and bank balances of two of his associates Hemant Bhope and Pankaj Adlakha, under the provision of Anti Money Laundering (AML) act.
It is the first attachment in the case where Bhardwaj, under the guise of Variabletech Pvt Ltd, Singapore, duped 8,000 people into investing in his fraudulent Bitcoin trading Ponzi scheme, www.gainbitcoin.com. The alleged conspirator would hold marketing events at expensive hotels across India, where his associates attracted attendees towards their Bitcoin mining investment schemes. In an event held in Noida city in 2016, which the author attended in person, the marketers claimed that GainBitcoin owns mining facilities in China. As proof, they showed attendees video clips that formerly belonged to one of the Motherboard coverages of a Chinese mining facility.