$1.3 Million: Indian Policer Officers Charged in Bitcoin Extortion Scheme

$1.3 Million: Indian Policer Officers Charged in Bitcoin Extortion Scheme

Bitcoin
April 10, 2018 by Bitzamp
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Ten police officers have been indicted by the Crime Investigation Department in the Indian state of Gujurat for allegedly abducting and extorting over 200 bitcoins from a local businessman. The Gujurat’s CID branch on Sunday filed a First Information Report – the initial step in conducting a police inquiry in India – against 11 accused
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Ten police officers have been indicted by the Crime Investigation Department in the Indian state of Gujurat for allegedly abducting and extorting over 200 bitcoins from a local businessman.

The Gujurat’s CID branch on Sunday filed a First Information Report – the initial step in conducting a police inquiry in India – against 11 accused including 10 police officers who amongst them were nine constables and a local town inspector, the Times of India reported.

According to the report, the inspector – who has been identified as Anant Patel-  along with nine police constables had abducted three residents of Surat including Shailesh Bhatt, Kirit Paladiya and a driver referred to as Mahipal on February 14. The cops took their captives to a farmhouse, beating them and forcing them to transfer the bitcoins. The amount involved is equal to roughly $1.3 million at current prices.

Before their release on February 14, Bhatt was reported to have paid another third party in order to retrieve his bitcoins, the report added.

However, director-general of the CID Ashish Bhatia said that an initial probe was not able to verify the said bitcoin transactions. A special investigation team has been formed to examine both citizens’ wallets for proof in further probe, according to the Times.

Investigators claim that three of the accused officials including Patel have been arrested so far, whereas the remaining six are said to be on the run.


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