Simpy Bhardwaj Arrested in India’s Gain Bitcoin Scam 2023
Simpy Bhardwaj, also known as Simpy Gaur, has been apprehended in connection with the Gain Bitcoin Ponzi scheme.
The arrest took place in a New Delhi raid on Sunday, December 17th.
New Delhi, Dec 19 (IANS) – Simpy Bhardwaj, also known as Simpy Gaur, was apprehended by the Enforcement Directorate (ED) on December 17 in connection with the ongoing investigation into the Gain Bitcoin Ponzi scheme, under the Prevention of Money Laundering Act (PMLA), 2002.
The financial probe agency initiated the investigation based on multiple FIRs filed by the Maharashtra Police and the Delhi Police against Variable Tech Pte Ltd, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy, Mahender Bhardwaj, and several MLM agents. The allegations suggest that they amassed approximately Rs. 6600 crore in Bitcoin from the public under the guise of investments.
Simpy Bhardwaj-Gain Bitcoin Ponzi scheme.
After (Bhardwaj) was produced before a special Prevention of Money Laundering Act (hearing) in Mumbai the next day, the court sent her to ED custody till December 26th.
An official stated, “ED’s investigation revealed that Simpy, along with her husband Amit Bhardwaj and MLM agents, actively enticed innocent investors with promises of substantial returns, ultimately defrauding the public.”
The ED’s inquiry further unveiled that the ill-gotten gains from the scheme were funneled to various overseas companies and utilized to acquire properties abroad. Simpy was found to be actively involved in generating, concealing, and layering the proceeds of the crime.
“Consequently, a search operation was conducted at the residence of Simpy and Ajay Bhardwaj. Simpy Bhardwaj was arrested on December 17 during the search and subsequently presented before the Special Judge, PMLA, Mumbai, on Monday,” the official added.
The court has granted the ED custody for eight days, extending until December 26.
“Additionally, during the search operation, three cars, including a Mercedes GLS350D and Audi Q3, along with incriminating documents and jewelry worth Rs. 18.91 lakh, were seized,” the official reported.
As a result of the ongoing ED investigation, properties worth Rs. 69 crore in this case have been attached. The main accused, Ajay Bhardwaj, and Mahender Bhardwaj remain at large.
