The Enforcement Directorate (ED) has apprehended two individuals in connection with the high-profile BitConnect cryptocurrency scam, exposing a multi-layered fraud involving kidnapping, extortion, and massive financial losses. Nikunj Pravinbhai Bhatt, 33, and Sanjay Kotadia, 49, were taken into custody under the Prevention of Money Laundering Act by the ED’s Ahmedabad office. Investigations reveal the scheme… Continue reading ED Arrests Two in BitConnect Crypto Fraud Linked to Kidnapping and Bitcoin Extortion
Tag: ED
ED Intensifies Crypto Fraud Probe With Raids Across 21 Locations in Multiple States
The Enforcement Directorate (ED) has carried out coordinated searches at 21 premises across several states in connection with a major cryptocurrency fraud case originating in Karnataka. The action marks a significant escalation in the investigation, aimed at tracing illicit fund flows, identifying beneficiaries, and uncovering assets linked to the alleged scam. Officials are examining digital… Continue reading ED Intensifies Crypto Fraud Probe With Raids Across 21 Locations in Multiple States
ED Seizes ₹4,190 Crore in Crypto-Linked Investigations as Centre Intensifies Compliance Drive
India’s enforcement agencies have stepped up their scrutiny of virtual digital asset activities, culminating in the attachment of ₹4,190 crore in several ongoing crypto-related investigations. The Enforcement Directorate (ED) has also designated an accused individual as a Fugitive Economic Offender, signaling a firmer legal stance against financial misconduct involving digital assets. Simultaneously, the Central Board… Continue reading ED Seizes ₹4,190 Crore in Crypto-Linked Investigations as Centre Intensifies Compliance Drive