Live from India: Congress Party Alleges of a “Mega Bitcoin Scam” on Ruling Party

Live from India: Congress Party Alleges of a “Mega Bitcoin Scam” on Ruling Party

According to the reports published by Hindustan Times, India’ party in opposition, the Congress, has alleged a multi-crore scam of converting black money through ‘bitcoin’ transactions in Gujarat, a state that has BJP in power and also has the constituency of the Prime Minister Narendra Modi. Congress has demanded an apex court-monitored judicial probe into it.

Congress trying to gain mileage for next years General elections

Party spokesperson for Congress in the state of Gujarat, Shaktisinh Gohil alleged that a ‘Bitcoin Scam’ of over Rs 5,000 crore has surfaced in Gujarat, with some saying that it is to the tune of Rs 88,000 cr, and charged that the state’s top BJP leadership was involved in converting black money through hawala (a popular and informal value transfer system based not on the movement of cash,)transactions.

The BJP, however, dismissed the Congress’ accusation and said it was an attempt by the opposition party’s “dirty tricks department” to spread confusion and lies.

“The dirty tricks department of the Congress is at work to spread confusion and lies. It is blaming the police which has uncovered the case. I wonder if the Congress is trying to help somebody in this case as part of a conspiracy,”

said BJP spokesperson for state Anil Baluni

He also alleged there were reports of the state police “blackmailing” some business which, Mr. Gohil also said there is suspicion of connection of a few top BJP leaders in this “massive cryptocurrency” scam and that they are “absconding”.

The tone of the statement and all following quotes looks like a media exercise to gain attention as there is still no proof that was presented can hold the statement true

Initial reactions have been that of blame games between the two parties spokesman. A few more important reactions and probe are still awaited to gauge how much of this is actually the truth.

Is there any truth behind this story or it is just an exercise to gain the media’s attention? Do let us know your views on the same.

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Live from India: Congress Party Alleges of a “Mega Bitcoin Scam” on Ruling Party
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Live from India: Congress Party Alleges of a “Mega Bitcoin Scam” on Ruling Party
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The Congress, has alleged a multi-crore scam of converting black money through ‘bitcoin’ transactions in Gujarat, a state that has BJP in power and also has the constituency of the Prime Minister Narendra Modi. Congress has demanded an apex court-monitored judicial probe into it.
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Nilesh Maurya 419 Articles

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Reach out to him at Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Reach out to him at [email protected]

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