Ready to take over probe into bitcoin ponzi scam: CBI to SC
Nation
Posted at: Jun 1, 2019, 7:01 AM; last updated: Jun 1, 2019, 7:01 AM (IST)
- Also in this section
Tribune News Service
New Delhi, May 31
The CBI on Friday told the Supreme Court that it was ready to take over the probe into the multi-crore bitcoin ponzi scam that allegedly duped many investors by promising them handsome returns.
Bitcoin or crypto-currency is unregulated digital money that is issued and normally controlled by its developers and used and accepted among members of a virtual community. Bitcoin is not a legal tender in India and is not recognised as a medium of exchange.
Director of an online multi-level marketing company and his brother were arrested by the Pune Police in connection with the bitcoin ponzi scheme scam last year. The director had allegedly lured investors by promising them handsome returns. Cases were also lodged in other states in connection with the alleged scam.
During hearing a bail plea of an accused in the case, Solicitor General Tushar Mehta told a Bench headed by Justice MR Shah on behalf of the CBI and Enforcement Directorate that it was a “huge” scam and the CBI was ready to take over the probe. “This is a huge bitcoin ponzi scam. He (accused) is seeking a CBI probe and we (CBI) have no problem,” Mehta told the Bench.
Original Source