4 and a half years after BitConnect collapsed, a sufferer has registered a grievance with police in India.
The sufferer, recognized solely as a lawyer in Pune, Maharashtra, claims to have misplaced “near 220 bitcoin”.
220 BTC at the moment has a avenue worth of round $5 million USD.
Of the claimed quantity, 54 BTC is alleged to be an preliminary funding. The remaining 166 BTC is Ponzi returns that by no means existed.
Why this hasn’t been identified to the lawyer is unclear. In any occasion, on Tuesday Pune police have registered a First Info Report towards BitConnect’s founder, Satish Kumbhani.
As reported by the Indian Categorical;
The transactions between the complainant and the suspects have taken place between 2016 and June 2021.
No arrests have been made within the case and a seek for the suspects has been launched. Officers mentioned that they will even probe whether or not the identical set of suspects have cheated any extra individuals in the identical method.
It was solely after investigating the case that police in Pune realized Kumbhani has already been indicted within the US.
Senior Inspector DS Hake, from the Cyber Crime Police Station of Pune police mentioned that the case was registered on Tuesday night time and a probe has been launched into the small print supplied by the complainant.
Should you’re questioning why Indian authorities don’t have their very own federal case towards BitConnect, a multi-billion greenback Ponzi scheme, I don’t know the reply to that both.
Kumbhani stays a fugitive at massive. He’s believed to be hiding out in both India or Dubai.
