GainBitcoin scam mastermind Amit Bhardwaj became the talk of the country when he was arrested in April from Bangkok. He had swindled a lot of people to the tune of Rs 30,000 crore through his scam and mining company. Interestingly, the mining company still continues to function.
The saga of Bhardwaj seems to be never-ending. Much like a Hydra, when investors think they have solved one aspect of the case, another problem comes right up. The latest twist revealed in the case is this: Amit Bhardwaj allegedly was a part of two new companies:Golden Overseas and D.M. Trade Impex. Interestingly, investors were lured to invest in these two companies and the money was then directed to a bank account under the name of Suich Industries Private Limited.
An investor, Amardeep Singh, who had invested Rs 30 lakh in Golden Overseas told Crypto-News India, “These companies were named by investigating officials as fraudulent. My lawyer asked the law enforcement, how can the companies be fake when there are identity documents uploaded of the directors of the company? The documents include, that the company was in operation as all the accounts after 2016 was connected with the KYC, Aadhar Card and the same is mandatory for every account, in the present case these are the facts which are still needs investigation.”
Asked how many people were affected by the scam, Singh said 1 lakh people had invested and almost Rs 35,000 crore was swindled out of them. He added that since 90%-95% Indians dealt in cash, they are reluctant to press charges against him.
A chargesheet put out by the police said that one of the accused, Amit Kumar, who is the founder of Golden Overseas, filed an ITR return for the financial year 2014-15. The chargesheet also added that there was a major lapse in the investigation because law enforcement officials only arrested one of the directors of the third company Suich, Sanchit Allagh. Interestingly, money deposited by the investors in the State Bank of India account belonging to Suich was sent to Amit Bhardwaj’s account.
Singh added, “After we raised a hue and cry about this account, it was frozen on July 19 this year. However, after barely a month, the frozen account was reactivated.” The court which was hearing these arguments has asked for answers to the above points on October 22.
However, this is only part of the story. Although Bhardwaj is currently incarcerated in Chandigarh, seems like there is still some mischief afoot. A source who is at the forefront of the investigation told Crypto-News India, “Amit’s Police Custody Remand (PCR) ended a month ago in Chandigarh and as part of the eventual Magistrate Custody Remand, he is supposed to have been brought back to Pune. What is disturbing is the police is supposed to bring him back to Pune each time his PCR ends, but instead of that, he was first sent to Delhi then to Chandigarh, without being brought back to Pune, each time.”
To confirm this, we reached out to Investigating Officer, Jasminder and asked him what’s causing the hold up. The IO told Crypto-News India, “It is true Bhardwaj is still in custody here in Chandigarh. However, a couple of days I spoke to Delhi inspector Samarpal and he said he will be producing a production warrant in the next 2-4 days, which will be produced in Patiala Court. Following which, Bhardwaj will be sent to Delhi.”
There are a few things that the investors would like to ask the authorities:
Q1. How can a bank account which has been frozen owing to a criminal activity, be activated again?
Q2. When PCR ends and MCR begins, an accused in a case is moved from one jail to another in a matter of days. How is it that Bhardwaj is still in Chandigarh, despite his PCR ending a month ago? Isn’t it a contempt of court?
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