Moneycontrol News
Former Infosys employee Amit Bhardwaj, who conned people of Rs 2,000 crore, has returned from Dubai and was placed in the custody of probe agencies.
According to a report by ThePrint, the former stock broker allegedly promised people a 10 per cent monthly return on the purchase price of one bitcoin for the next 18 months. This is would mean doubling their money in a year and a half.
Tax liabilities were avoided as all the transactions took place in bitcoins through Bitex. This was a digital bank vault that cut off involvement of the Indian currency.
However, as prices of the volatile cryptocurrency soared, Bhardwaj did not stick to his promise, and fled to Dubai. He was deported from the UAE on visa violations today.
The report quoted immigration department sources who said he was held at the airport till the investigation agencies were informed.
Bhardwaj has duped investors from Delhi, Pune, Nanded, Mumbai and Kolhapur. Cases against him have been registered at Delhi Police’s crime branch.
The Enforcement Directorate (ED) was also called in to probe the alleged Rs 2,000 crore fraud. There was a lookout notice issued against him. According to the report, he is currently being questioned but has not been arrested.
Bhardwaj was asked to hand over his documents that include his passport, and the balance sheets of his companies.
He reportedly owns a house in Dubai’s Burj Khalifa — the world’s largest tower.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
