Ahmedabad: Officials of Enforcement Directorate (ED) Ahmedabad provisionally attached movable properties in the form of cryptocurrencies, gold and cash amounting to Rs 433 crore, identified as proceeds of a cryptocurrency scam involving Divyesh Darji and others under the provisions of the Prevention of Money Laundering Act (PMLA).“The ED initiated an investigation under the provisions of the PMLA based on the FIRs registered by the CID Crime police station, Surat, against Divyesh Darji, Satish Kumbhani, Shailesh Bhatt and other accused. During investigation under the PMLA, it was revealed that the said properties were not acquired by the concerned persons out of their legitimate incomes and the same were derived/obtained as the result of commission of scheduled offences under the PMLA,” mentioned a release by ED.The release added that from Nov 2016 to Jan 2018, Kumbhani, promoter of cryptocurrency Bitconnect Coin, established a worldwide network of promoters and lured the public into investing in various investment schemes by offering them huge returns.Investigations revealed that Kumbhani and associates raised huge investments. “Later, a part of the proceeds of crime, which were acquired by Kumbhani and his associates, were extorted by Bhatt and his accomplices by kidnapping two of Kumbhani’s associates,” the release states.The provisionally attached movable properties are a part of the proceeds of crime acquired by Kumbhani, Bhatt and their accomplices, the release added.
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