The cyber cell of Chandigarh police has booked six people, including the director of an online multi-level marketing company Amit Bhardwaj, who was arrested from Delhi by the Pune police last month in connection with an alleged multi-crore bitcoin ponzi scheme.
Bhardwaj has been charged with duping three residents of Chandigarh after promising them handsome returns on investing in Bitcoin.
"A case has been registered against him. In all six people have been booked," Cyber Cell In-charge Inspector Jaswinder Singh said today.
Amit Bhardwaj, the director of Gainbitcoin, and his brother Vivek Kumar Bhardwaj were arrested from Delhi by the Pune Police in April after they picked up seven people in connection with the alleged scam.
According to the police, Amit Bhardwaj had set up the online multi-level marketing company through which he allegedly lured investors by promising them handsome returns. He would allegedly promise 10 per cent returns for investing one bitcoin but did not keep his word.
People were motivated by some agents to invest in bitcoins through Amit Bhardwaj and once they invested with his company, he duped them, police said, adding this way he duped three residents of Chandigarh.
On the amount duped from the three people in Chandigarh, Jaswinder Singh said, "We are conducting investigations in this regard."
Bitcoins or cryptocurrencies is a type of unregulated digital money that is issued and normally controlled by its developers and used and accepted among the members of a virtual community. Bitcoins are not a legal tender in the country and are not recognised as a medium of exchange.
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