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Delhi Conman Dupes 2 Traders Of Rs 7.4 Crore Under Ruse Of 'Mining Bitcoins', Probe Launched

DIVYIA ASTHANA | 0
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| May 18 , 2018 , 15:05 IST

Despite warnings about the dangers of bitcoins, two businessmen fell into the trap of a master conman identified as Amit Bhardwaj who duped them of Rs 4.4 crore and Rs 3 crore respectively, on the pretext of selling them Bitcoin mining set-ups. The businessmen had been promised a return of 150%  for their investment. A probe has been launched against Bhardwaj, media reported on Friday.

According to reports, Bhardwaj, a resident of Delhi's Shalimar Bagh who was arrested by Pune Police from the IGI airport in April, is estimated to have duped more than 8,000 people of around Rs 2,000 crore.

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A victim with an export firm at Barakhamba Road alleged that Bhardwaj introduced himself as a trader dealing in gold, diamonds and Bitcoin with expertise in getting good returns on investments

“To win my confidence, Bhardwaj introduced me to one Rajesh, who he claimed had collaborated with him to acquire a gold mine in Guinea, Latin America. He also showed some papers in this regard. After a few meetings, he offered to transfer shares held by them in the mine,” the victim said to TOI.

The crooks would produce a forged share-purchase agreement and when the victim showed interest, the accused would give a 'better' offer. The crooks would then tell the victim to invest in the deal, claiming to be experts in Bitcoin mining. When the victim sought more information on cryptocurrency since he had no knowledge in the field, he was told that the virtual currency gave 100-150% returns on investments.

The victim was then made to speak to other 'clients' who had supposedly gotten substantial returns, but were later found to be members of Bhardwarj's gang. When the victim became suspicious, the accused began avoiding him, at which point the victim approached the police.

Bhardwaj ran firms and websites in the name of Variable PTE limited, GB Miners and gainbitcoin.com, with himself and family members claiming to be directors in firms like Bitex Services, Coinbank, Paybits, Mcap labs and Redox Infotech, dealing in Bitcoin mining and trading.