Police in India accused of organizing $ 1.3 million bitcoin extortion scheme
Gujarat, India’s Crime Investigation Department (CID) accuses 10 police officers of kidnapping, blackmail and corruption after they kidnapped a businessman and forced him to give them 200 bitcoins.
According to the Times of India, on Sunday, the Division filed the First Information Report – the first step required to conduct a police investigation in India – against ten police officers and one civilian “resolver.” Charges are brought against nine constables and one police inspector named Anant Patel.
According to the Ahmedabad Mirror article, the police are accused of kidnapping local residents Shailesh Bhatt, Kirith Paladiyya and the driver referred to as Mahipal, as well as holding them in a farmhouse, beating them and forcing them to transfer bitcoins. At the current exchange rate, the stolen 200 bitcoins are worth about $ 1.3 million..
However, according to the head of the main police department Ashish Bhatia, the initial check could not show that these 200 bitcoins were transferred from Bhatt to Patel, and now the police, according to the Times of India, are planning to check the wallets of both citizens.
“In his statement, Shailesh Bhatt mentioned that he transferred 200 bitcoins worth $ 1.8 million from the digital wallet of his business partner Kirita Paladiyya. Another $ 5 million was paid for the alleged release from the farmhouse. Later, another $ 121,000 was allegedly paid to get the bitcoins back. None of the transactions mentioned in the application can be verified. “.
According to Bhatia, a special search team was formed to investigate the case. According to News18.com, three constables have already been arrested, while six others and Inspector Patel remain at large..