New Delhi [India], November 20 (HBTV): The Central Bureau of Investigation (CBI) has initiated an investigation into an alleged Bitcoin-based Ponzi "scam" and filed a First Information Report (FIR), sources confirmed.

The FIR names Amit Bhardwaj, Ajay Bhardwaj, and others as the accused in the case.

According to sources, the accused individuals allegedly collected 80,000 bitcoins, diverting funds worth INR 6,606 crore through nine overseas firms to purchase properties abroad.

The agency has also summoned Gaurav Mehta to join the investigation, sources added.

Earlier, the Directorate of Enforcement (ED) apprehended Simpy Bhardwaj, also known as Simpy Gaur, last year in connection with the ongoing investigation into the Gain Bitcoin Ponzi scheme.

The arrest was made under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

The ED’s investigation began based on multiple FIRs filed by the Maharashtra Police and Delhi Police against M/s Variable Tech Pte Ltd, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and several MLM agents.

The allegations suggest that the accused collected approximately INR 6,600 crore in Bitcoin from the public, presenting it as a lucrative investment opportunity.

The investigation revealed that Simpy Bhardwaj, along with her husband Ajay Bhardwaj and MLM agents, played a central role in luring unsuspecting investors with promises of high returns.

Further findings indicated their involvement in defrauding the public through deceptive practices.

Notably, the proceeds from this fraudulent scheme were funneled into various overseas companies and used to acquire properties abroad.

The ED’s ongoing investigation has already led to the attachment of properties worth INR 69 crore in connection with the Gain Bitcoin Ponzi scheme. (ANI)