November 27, 2023
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December 20, 2023
ED probes nine overseas firms, including those in Hong Kong and Estonia, linked to a bitcoin-based ponzi scheme run by Variable Tech.
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Variable Tech collected 80,000 bitcoins, diverting ₹6,606 crore through nine firms for overseas property purchases.
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Entities include Amaze Mining, Green Ocean Overseas, Blue Wave Trading, Crypto Capital, ABC Mega Alliance DMCC, AB Holdings, AB Facilities, and Purple Rain Trading Company.
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Initiated in 2018 based on cases filed by Maharashtra and Delhi police. First chargesheet submitted in 2019.
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Simpy Bhardwaj, a key accused, arrested. ED seizes assets, including luxury cars, documents, and jewelry worth ₹18.91 lakh. Main accused Ajay Bhardwaj remains at large.
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Accused, including Simpy Bhardwaj, allegedly involved in generating, concealing, and layering proceeds of the bitcoin-based ponzi scheme.
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Simpy Bhardwaj produced before PMLA court, remanded in ED custody till December 26. Investigation leads to provisional attachment of properties worth ₹69 crore.
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