All posts tagged: Bitcoin scam

Two-thirds of Karnataka SIT funds spent on legal expenses in Prajwal Revanna cases | Bangalore News

Two-thirds of Karnataka SIT funds spent on legal expenses in Prajwal Revanna cases | Bangalore News

Published by Parlour News

Almost two-thirds of funds spent by Special Investigation Teams (SIT) formed to investigate various cases in Karnataka since 2023 went towards legal expenses in sexual assault cases involving former JD(S) MP Prajwal Revanna, the Government said on Monday. While the total legal and investigation expenses incurred by the SITs in various cases amounted to Rs 4.54 crore, Rs 2.96 crore (65.19 per cent) was the cost of fighting the Revanna cases in the trial court, the Karnataka High Court, and the Supreme Court. Funds spent on investigating the sexual assault cases against Revanna amounted to Rs 33.91 lakh, according to a response tabled by Home Minister G Parameshwara in reply to an unstarred question raised by BJP MLA Munirathna during the winter session of the legislature. The total cost of investigation and legal fees in the cases against Revanna was Rs 3.29 crore. Of the legal expenses incurred in the Revanna case, Rs 2.41 crore was the fee paid to Special Public Prosecutor Ravivarma Kumar, and Rs 28.37 lakh was the fee paid to SPP …

Relief for Shilpa Shetty, husband as Bombay High Court bars eviction till decision on appeal against ED notices

Relief for Shilpa Shetty, husband as Bombay High Court bars eviction till decision on appeal against ED notices

Published by Parlour News

In a relief for actor Shilpa Shetty and her husband, businessman Raj Kundra, the Bombay High Court on Thursday directed the Enforcement Directorate not to enforce its eviction notices for their properties provisionally attached in Bitcoin scam cases until an authority decides their appeal. The properties for which eviction notices were issued by the central agency include the couple’s residential premises in Mumbai’s Juhu area and a farmhouse near the Pawna dam in Pune district. A bench of Justices Revati Mohite-Dere and Prithviraj K Chavan said that if the appellate authority’s decision is adverse or unfavourable to them, the duo should be given two weeks to seek further relief. This came after the ED told the court that eviction notices would not take effect until the couple filed their application for a stay on the notices before a tribunal under the Prevention of Money Laundering Act. The couple had sought a stay on the execution of the notices dated September 27 pending a hearing on their petitions. The ED provisionally attached immovable and movable properties …

All About Rs 6,600 Crore Bitcoin Scam Linked To Probe Against Raj Kundra

Published by Webster

New Delhi: Raj Kundra, businessman and actor Shilpa Shetty’s husband, has landed on the radar of the Enforcement Directorate in a money laundering case linked to a Ponzi scheme. The probe agency has seized properties worth Rs 97.79 crore, which also includes a Mumbai flat registered in the name of Shilpa Shetty. Raj Kundra, though, is not the prime accused in the case. The case pertains to the masterminds launching an investment scheme called ‘Gain Bitcoin’ in 2017. They approached investors with a false promise of a 10 per cent a month return, but in the form of bitcoins. In a short span, they managed to raise Rs 6,600 crore.    The main accused, Ajay Bhardwaj and Mahendra Bhardwaj, told investors that they would use the amount to mine bitcoins which would give instant and huge rewards. The first couple of months they paid profits to their initial investors from the money that came in from the recent ones. But they stopped when they could not get enough new investors on board.    They bought …

Karnataka Bitcoin scam: In destruction of evidence case, court rejects interim anticipatory bail plea of missing cop | Bangalore News

Published by Parlour News

A special court in Bengaluru on Friday rejected a police officer’s plea seeking interim anticipatory bail in a case of alleged destruction of evidence linked to a 2020-21 hacking case in the city involving international hacker Srikrishna Ramesh alias Sriki. Former Bengaluru Crime Branch police officer K Sridhar Poojar sought interim anticipatory bail in the case filed by a criminal investigation department (CID) special investigation team (SIT) on August 9, 2023, after he was issued notices in the case. The CID SIT which is probing a Bitcoin-linked corruption scam over alleged extortion of cryptocurrency funds from the hacker after his arrest in November 2020 had filed an FIR over destruction of evidence in 2023 against unnamed officers of the Bengaluru Crime Branch. The SIT has now issued notices to two former Crime Branch officers, Poojar and Prashant Babu. “The interim bail application filed by the petitioner under sec.438(1) of Cr.P.C. is hereby rejected,” a special court said Friday. Poojar, who is of the rank of a deputy superintendent, went missing after his anticipatory bail was …