Author: Jagdish Kumar, India
After running away from the clutches of Indian law enforcement agencies on charge of crypto scam, Gujarat Police finally arrested BitConnect head, Divyesh Darji from Delhi airport.
Darji was staying in Dubai since his run from the country from January 2018. He was to visit Ahmadabad, but was taken into custody, as soon as he arrived in Delhi from he was to take a connecting flight to Ahmadabad by inspector P G Narwade of Criminal Investigation Department (CID-Crime) of Gujarat police
Investors have filed a complaint against BitConnect head that it has duped them of millions of dollars, as the company in which they invested did not gave returns assured by the company chief.
Narwade, the police officer investigating the case said that the BitConnect was formed in 2016 and very son it spread it wings and many investor looking to earn easy money came in contact with Darji, who assured huge returns.
During that period, Darji held many seminars, events in India and other countries promising high interest of close to 1% daily interest, that comes to around 365% annually on their investment in BitConnect coins.
According to coinmarketcap.com, BitConnect was trading at $.93 per coin on 9 March 2017, but by 7 January 2018, the coins were trading at $431.79 per coin and then falling to $3.28 per coin after Darji’s disappearance became public.
During the period, BitConnect released 28 million coins, out of which 18 million coins were sold to investors, the police officer said.
As per an first information report (FIR) filed recently, the third in the case being probed by the Surat unit of CID so far, the promoters of BitConnect collected Bitcoins worth million from one investor before fleeing.
CID has said that many employees of the company has confirmed that before leaving the country, Darji has collected million of rupees from the investor.
It is being learnt that another fraudster, owner of Money Trade Coin, Dr Lakhanpal was also arrested in country after this arrival from the UAE recently, where is was staying after fleeing the country in another million dollar crypto currency scam.
Darji’s name was also cropped up in the kidnapping case, where a Surat-based builder Shailesh Bhatt alleged that some policemen from Amreli district kidnapped him and his business partner and extorted cryptocurrency or Bitcoins worth $1.3 million from them.
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