The Enforcement Directorate (ED) arrested Simpy Bhardwaj aka Simpy Gaur on December 17 in connection with an ongoing investigation into the Gain Bitcoin Ponzi scheme under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The financial probe agency had initiated an investigation on the basis of multiple FIRs registered by the Maharashtra Police and the Delhi Police against Variable Tech Pte Ltd, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy, Mahender Bhardwaj and a number of MLM agents, wherein it has been alleged that they had collected (approximately) Rs. 6600 crore in the form of Bitcoin from the public in the name of investment.
“ED investigation revealed that Simpy along with her husband Ajay Bhardwaj and MLM agents played an active role in luring innocent investors by promising huge returns on the investment and cheated the public by way of committing fraud,” said the official.
The ED investigation also revealed that the proceeds of crime generated out of this scam were transferred to various overseas companies and were used for purchasing properties abroad and that Simpy was actively involved in generating, concealing and layering the proceeds of crime.
“Consequently, a search operation was conducted at the resident premises of Simpy and Ajay Bhardwaj. During the course of search action, Simpy Bhardwaj was placed under arrest on December 17 and subsequently, she was produced before the Special Judge, PMLA, Mumbai, on Monday,” said the official.
The court has granted the ED custody for eight days till December 26.
“Further during the course of search action three cars including Mercedes GLS350D and Audi Q3, incriminating documents and jewellery worth Rs. 18.91 lakh has been seized,” said the official.
The ED investigation till now has resulted in attachment of properties worth Rs. 69 crore in this case. The main accused Ajay Bhardwaj and Mahender Bhardwaj are absconding.
(This article has been published via a syndicated feed)