Cryptô Hunter 0100

Quick Take
Fourteen people were sentenced to life imprisonment after being convicted of involvement in a 2018 kidnapping and extortion case, in which a Surat businessman was abducted and forced to sell bitcoin as a ransom, according to local news reports.
The convicts include the district’s superintendent of police and a former legislative member.
The victim has himself been charged with a litany of offenses related to his own kidnapping and extortion of two BitConnect promoters.
Fourteen men have been sentenced to life imprisonment by an anti-corruption court in India after they were convicted of involvement in a 2018 kidnapping of an Indian man targeted for his crypto holdings.

The convicts include 11 police officers, including the former superintendent of police in the district where the crime took place, and a former member of India's legislative assembly. The men were convicted under the Indian Penal Code for kidnapping, extortion, and criminal conspiracy by Special Judge B.B. Jadav in Ahmedabad, according to local news reports.

The complainant, Shailesh Bhatt, was allegedly lured to a gas station on February 9, 2018 by men posing as agents from India's Central Bureau of Investigation. Upon arriving, Bhatt was kidnapped and detained at a nearby farmhouse. Bhatt was then reportedly threatened by the police officers at gunpoint until he agreed to meet their ransom demands.

The kidnappers initially demanded 176 BTC plus ₹32 crore in cash (currently about $3.6 million USD), but following negotiations, Bhatt sold 34 $BTC and transferred the proceeds, about $150,000 USD, to his abductors. A deal to deliver the cash ransom fell through after the courier sensed foul play and did not transfer the money, according to reports.

Following their investigation, the prosecution lined up 172 witnesses to testify, including digital forensics experts, bank officials tracing fund transfers, and even some of the involved constables who turned approvers. 92 of those witnesses turned hostile during the trial, retracting or altering their testimony, raising concerns of potential witness intimidation behind the scenes. Judge Jadav issued a perjury notice to 25 hostile witnesses at the sentencing.

All 11 police officials involved were not only found guilty of the kidnapping and extortion, but also specifically under corruption law provisions for abusing public office. Nalin Kotadiya, the former Member of the Gujarat Legislative Assembly who represented the Dhari constituency (including the Amreli district where the crime took place) from 2012 to 2017, had evaded arrest for several months before his capture in September 2018.

Bhatt himself has been accused of kidnapping two BitConnect promoters and extorting them for 2,091 BTC, 11,000 LTC and ₹14.5 crore ($1.6 million USD) in cash. Bhatt was arrested on August 13, 2024 by India's Enforcement Directorate and charged with a litany of offenses, including kidnapping and money laundering, in his attempt to recoup his investment after BitConnect collapsed. Bhatt's case continues to wind through Indian courts.
#MarketPullback #CryptoNewsCommunity #bitcoinnewsupdate #CryptoCrime