Currently, all eyes are on Ajay Bhardwaj, the brother of Amit Bhardwaj and the prime accused in the GainBitcoin scam.
In March, the Enforcement Directorate (ED) urged the Supreme Court to issue directions to one of the accused in the GainBitcoin scam to provide access, as well as the username and password, to his crypto wallet, contending that the issue of “legality of crypto currency” does not arise in the matter, as it is a Ponzi scheme.
“The investigation conducted so far has revealed that Amit Bhardwaj (who died in January this year) with connivance of petitioner, Vivek Bhardwaj, Mahender Bhardwaj and others i.e, multi-level marketing agents and associates have collected 80,000 bitcoins as proceeds of crime,” said the ED affidavit.
Next month, the Supreme Court pulled up Ajay Bhardwaj for not complying with its direction to divulge details of the username and password of the cryptocurrency wallets to the ED.
Still, several crypto wallets belonging to the accused that were used for cryptocurrency collection purposes are yet to be traced.
Earlier this month, the ED raided six locations, including in Delhi, as part of a large investigation into the alleged scamming of over one lakh investors.
The investigative agency seized numerous electronic devices and crucial papers, according to reports.
Numerous officers and attorneys linked with a Delhi-based law firm were also subjected to raids, the reports said.
(Published in an arrangement with IANS)