Bitcoin scam: Accused denied bail to attend brother’s wedding

Tribune News Service

Chandigarh, June 13

A local court on Wednesday denied interim bail to an accused of the Bitcoin ponzi scam. Rajesh Jain had sought a seven-day bail to attend his brother’s wedding. 

A resident of Rajasthan, Rajesh was arrested in Delhi on May 24 along with Sanchit. They were stated to be agents of Bitcoin ponzi king Amit Bhardwaj, who was arrested earlier.

Besides pleading that he was falsely implicated in the case, the bail application stated that his father is suffering from throat cancer which is now in advanced stage making him bedridden. Also, his younger brother is getting married on June 25, for which he has to make arrangements and perform the ceremonies. 

Amit Bhardwaj, a bitcoin entrepreneur, was arrested by the Pune police for duping a large number of people to the tune of Rs 2,000 crore. 

Sources said three businessmen had approached the UT police alleging that they had invested 250 bitcoins on Amit’s advice, who had assured them of huge returns. However, they neither got returns nor bitcoins. 

The victims had purchased bitcoins from some website. Later, someone introduced them to Amit, who lured them to invest their bitcoins into mining. On his advice, they transferred their bitcoins to Amit. 

Sanchit and Rajesh had allegedly developed a code language and also stated to have transferred more than Rs 30 lakh to various accounts of the key accused of the scam.