India’s Ruling Party has been Accused of being involved in a Mega Bitcoin Scam
India’s ruling Bharatiya Janta Party (BJP) have been accused by the Indian National Congress (INC) party, of money laundering through Bitcoin.
The Congress has referred to this as a ‘Mega Bitcoin Scam’ alleging the BJP was converting all the “black money” using the Bitcoin digital currency. This alleged activity is said to be taking place in the country’s western state of Gujarat.
A spokesperson for the INC has claimed that the total figure involved in the scam is over $726 million. However, according to the Hindustan Times publication, some claim the amount may be in excess of $12.7 billion.
Speaking to reporters about the alleged scam, Gohil said,
“There were reports of the state police blackmailing some businessmen in Surat for extortion and named a former BJP legislator as one of the kingpins.”
Bitcoin currently holds an illegal status in India and the multiple emerging scams in the last few years involving the digital currency is a strong reason for its ban in the country.
Gohil further attacked the ruling party terming this scam as “Pandora’s box” and further stating that “illegal hawala transactions, kidnappings, extortion of cryptocurrency using CBI/police/government authorities at the behest of top BJP leaders in Gujarat is a norm”.
The INC minister went on to state that the BJP had used the previous demonetization policy to cover up their money laundering and were now using Bitcoin to continue cleaning funds and extorting wealthy individuals in the state. He said:
“Even as the BJP scrambles for answers to explain how the Ahmedabad District Cooperative Bank (ADCB), whose director is BJP President Amit Shah, received old currency worth Rs 745.58 crore in just 5 days and how Rs 3118.51 crore were deposited in 11 district co-operative banks linked with BJP leaders in Gujarat itself, a new ‘Mega Bitcoin Scam’ worth more than Rs 5,000 crore has been unravelled in the state.”
In the meanwhile, the BJP has dismissed all the allegations calling it “an attempt by the opposition party’s “dirty tricks department” to spread confusion and lies.”
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