Gujarat: CID books 8 cops for allegedly forcing businessman to transfer 200 Bitcoins

Ahmedabad: Eight cops allegedly abducted and forced a businessman to transfer 200 Bitcoins. At the current rate, the worth of 200 Bitcoins is Rs. 12 crore. Gujarat Criminal Investigation Department (CID) also arrested two of the eight cops.

According to the report published in Hindustan Times, cops were also charged for demanding a ransom of Rs 32 crore.

Talking about the case, Mr. Ashish Bhatia, Director General of Police, CID (Crime) told that all the accused belongs to Amreli district’s local crime branch unit. Out of the eight accused, two were arrested and they are constables Babu Der and Vijay Vadher.

It may be mentioned that victim, Shailesh Bhatt who is a businessman by profession had complained to the CID against the accused on 23rd February.

As per the details furnished by Mr. Bhatia, Amreli cops called Bhatt to Gandhinagar on 11th February. They abducted the businessman and took him to a farmhouse. Later, they forced Bhatt to transfer 200 Bitcoins to an account.

Accused released Bhatt only after he promised to give Rs. 32 crore through Hawala, Mr. Bhatia added.

However, Mr. Bhatia said that till now, CID is unable to find proof of Bitcoin transfer.

It may be noted that Bitcoin is a cryptocurrency and it works without a central bank. Bitcoin which recorded a value of $20,000 in December last year, has lost its value this year. More than 50% of its value is lost in 2018.