Criminal Investigation Department Of India Pressed Charges Against Eight Police Officials For Abducting And Demanding Payment In Bitcoin
Apr 10, 2018 Posted / 593 Views
On February 11, eight police officers and a legal advisor in India's State of Gujarat disappeared, after purportedly kidnapping a businessman and compelling him to trade 200 Bitcoin (worth $1.8 million) at the time to an unidentified account.
Criminal Investigation Department(CID) of Gujarat has filed a criminal report against each of the eight policemen. Two of them were captured recently but the six others are still on the run. As indicated by the CID, charges have also been brought against the group's legal advisor who was likewise included.
Ashish Bhatia, Director General of Police, CID said,“Two policemen, constables Babu Der and Vijay Vadher, were arrested on Sunday. All other accused have gone underground. Efforts are on to nab them,”
Earlier this year, the incident occurred in Surat, an industrial town in Gujarat. Eight policemen of Amreli area's local branch unit and a legal advisor professedly kidnapped businessman Shailesh Bhatt. They blackmailed him to transfer 200 Bitcoins and also demanded him to pay $4.9 million to free him.
The kidnappers released the businessman the day he paid them the amount. After he was set free, the businessman approached the police to file a complaint against the abductors.
Following the enormous growth of digital currencies and also the attention digital currencies have gotten, instances of kidnapping and extortion have expanded in India and in the rest of the world. Last year six individuals were captured on charges of kidnapping and requesting a huge amount in Bitcoin from an agent in the northern city of Mohali. In the same year, police captured six individuals for abducting, assaulting and looting a New Delhi businessman who had gone to meet them to pay for Bitcoin in cash.
Authorities in India have cautioned Indian nationals several times about cryptocurrencies. The Reserve Bank of India and the Ministry of Finance suspect that Bitcoin and other digital currencies don't have an innate value. These authorities are even stressed over burglary and fraud taking place. Recently, RBI banned banks and other financial institutions from giving services to clients dealing in cryptocurrencies.
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