Indian Authorities Seize $5.9 Million from GainBitcoin and GB21 in Crypto Assets
Indian Authorities Seize $5.9 MIllion in Property Assets Linked to GainBitcoin and GB21
Indian authorities continue to work against illegal crypto-related scams and ponzi schemes. This time, Indian authorities were able to seize close to $6 million dollars in property assets that were linked to GainBitcoin and GB21, two important Ponzi schemes.
Although $6 million dollars seems just a small sum compared to the $523 million that authorities believe that these Ponzi scheme stole, it’s a good way to start. Moreover, another $1 million dollar is believed to have been laundered using a business owned by Raj Kundra.
And indeed, the case related to Kundra reached the media since it is married to a local actress. Nonetheless, Mr. Kundra denies to be involved in these Ponzi schemes or with Amit Bhardwaj, GainBitcoin owner.
Back on April 3, the Enforcement Directorate (ED) indicted the bitcoin-based investment website GainBitcoin for criminal activity against the Prevention of Money Laundering Act (PMLA).
Moreover, Bhardwaj has been arrested some time ago in Thailand. He escaped from Dubai after lying about health problems. At the moment, he is in India, where he was extradited and remains in custody.
Indian authorities are working very closely with other countries in order to Stop Ponzi schemes and individuals involved in running them. There are millions of dollars that remain hidden, but governments are investigating and searching those responsible of conducting illegal activities.