By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Latest World News UpdateLatest World News UpdateLatest World News Update
Notification Show More
Font ResizerAa
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Reading: Gujarat crypto-currency scam: ED attaches assets worth Rs 433 crore of Divyesh Darji, others – World News Network
Share
Latest World News UpdateLatest World News Update
Font ResizerAa
Search
  • Home
  • Business
  • National
  • Entertainment
  • Sports
  • Health
  • Science
  • Tech
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Videos
  • Press Release
    • Press Release
    • Press Release Distribution Packages
  • Live Streaming
  • Legal Talk
Have an existing account? Sign In
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Latest World News Update > Blog > National > Gujarat crypto-currency scam: ED attaches assets worth Rs 433 crore of Divyesh Darji, others – World News Network
National

Gujarat crypto-currency scam: ED attaches assets worth Rs 433 crore of Divyesh Darji, others – World News Network

worldnewsnetwork
Last updated: April 1, 2024 12:00 am
worldnewsnetwork
Share
4 Min Read
SHARE

New Delhi [India], April 1 (ANI): The Directorate of Enforcement (ED) has attached movable properties worth Rs 433 crore in a money laundering case against Divyesh Darji, the Asia head of a UK-based crypto company – Bitconnect, and others for their alleged involvement in a crypto-currency scam in Gujarat.
The scam allegedly led to the syphoning of lakhs of rupees after luring people to get whopping returns on their investments.
The movable properties are in the form of cryptocurrencies, gold and cash (in INR and USD) which are proceeds of crime. The assets were attached under the provisions of the Prevention of Money-Laundering Act (PMLA), 2002, the ED said on Monday.
ED initiated an investigation on the basis of FIRs (First Information Reports) filed by the CID (Crime) Gujarat under various sections of the Indian Penal Code, 1860, Gujarat Protection of Interests of Depositors Act (GPID), 2003 and the Prize Cheat Money Circulation Scheme Banning Act, 1978, against Divyesh Darji, Satish Kumbhani, Shailesh Bhatt and other accused persons.
During the investigation under the PMLA, the ED said, it was revealed that the properties were not acquired by the concerned persons out of their legitimate income and the same were derived and obtained as the result of the commission of scheduled offences under the PMLA.
The ED investigation revealed that from November 2016 to January 2018, Kumbhani, the promoter of Bitconnect Coin (a cryptocurrency), established a worldwide network of promoters and induced the public to invest in various investment schemes related to Bitconnect Coin by offering huge returns.
As per the investigation done so far, the agency said Kumbhani and his associates had raised huge investments and cheated the investors.
“Later, a part of the proceeds of crime that were acquired by Satish Kumbhani and his associates was extorted by Shailesh Bhatt and his accomplices by kidnapping two of the associates of Satish Kumbhani,” said the ED in a statement.
“The provisionally attached movable properties are a part of the proceeds of crime acquired by Satish Kumbhani, Shailesh Bhatt and their accomplices.”
The main accused in the case, Divyesh Darji was arrested at the Delhi airport in 2018. Darji was returning from Dubai.
Darji, the resident of the Adajan area in Surat, has been accused of duping investors of USD 12.7 Bn through Bitconnect.in, the Indian division of the UK-based Bitconnect (.com), which was launched right after demonetisation.
Darji is also an accused in a Rs 22,000 bitcoin scam and later his name surfaced in another Rs 1,000 crore scam of Dekado coin. This is the third case in which Darji’s name has been surfaced. (ANI)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News

sponsored by

WORLD MEDIA NETWORK


PRESS RELEASE DISTRIBUTION

Press releases distribution in 166 countries

EUROPE UK, INDIA, MIDDLE EAST, AFRICA, FRANCE, NETHERLANDS, BELGIUM, ITALY, SPAIN, GERMANY, AUSTRIA, SWITZERLAND, SOUTHEAST ASIA, JAPAN, SOUTH KOREA, GREATER CHINA, VIETNAM, THAILAND, INDONESIA, MALAYSIA, SOUTH AMERICA, RUSSIA, CIS COUNTRIES, AUSTRALIA, NEW ZEALAND AND MORE

Press releases in all languages

ENGLISH, GERMAN, DUTCH, FRENCH, PORTUGUESE, ARABIC, JAPANESE, and KOREAN CHINESE, VIETNAMESE, INDONESIAN, THAI, MALAY, RUSSIAN. ITALIAN, SPANISH AND AFRICAN LANGUAGES

Press releases in Indian Languages

HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages

Email - support@worldmedianetwork.uk
Website - worldmedianetwork.uk

India Packages

Read More

Europe Packages

Read More

Asia Packages

Read More

Middle East & Africa Packages

Read More

South America Packages

Read More

USA & Canada Packages

Read More

Oceania Packages

Read More

Cis Countries Packages

Read More

World Packages

Read More
sponsored by

You Might Also Like

“Swayamsevaks are watchguards of India’s national soul”: RSS leader Hosabale recalls book by Father Anthony published in early fifties – World News Network

3 accused sentenced to 7 years’ sentence in Bengaluru riot case – World News Network

Puri burn victim undergoes surgery, condition still critical: AIIMS Delhi – World News Network

PIB Fact Check debunks claims of Vice President’s official residence being sealed – World News Network

‘If Modi ji writes to me…’: Telangana CM Revanth Reddy backs Dattatraya for Vice President – World News Network

Share This Article
Facebook Twitter Copy Link Print
Share
Next Article Stock indices open in negative territory with mixed global cues – World News Network
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

- Advertisement -

Latest News

Manaksia Coated Metals and Industries Posts 370% Jump in Q1 FY26 Net Profit, Touches Rs. 14 Cr – World News Network
Business July 24, 2025
Repono Limited IPO Opens on July 28, 2025 – World News Network
Business July 24, 2025
India Selected to Host International Space Leaders for Karman Week 2025 – World News Network
Business July 24, 2025
Asia Pacific’s Mobile Sector Adds $950 Billion to GDP; On Track to Reach $1.4 Trillion by 2030, GSMA Report Reveals – World News Network
Business July 24, 2025

Sports

Anti-Doping Amendment Bill introduced in Lok Sabha, seeks to enhance independence of the National Anti-Doping Appeal Panel – World News Network
Sports
“He was in a lot of pain…We’ll miss a batter if he doesn’t come back again”: Sai Sudharsan on Rishabh Pant’s injury – World News Network
Sports

Popular Category

  • Business
  • Entertainment
  • Health
  • Lifestyle
  • National
  • Science
  • Sports
  • Tech
  • Videos
  • World
  • Marathi
  • Hindi
  • Gujarati
  • Press Release
  • Press Release Distribution Packages

Entertainment

Matthew Perry’s doctor pleads guilty to supplying ketamine to ‘Friends’ star – World News Network
Entertainment
‘Fire in my belly to do the next’: Randeep Hooda on his upcoming projects – World News Network
Entertainment
Latest World News UpdateLatest World News Update
Follow US
Copyright © 2023 World News Network. All Rights Reserved
Welcome Back!

Sign in to your account

Lost your password?