State to form SIT to probe Bitcoin fraud

Nagpur: Maharashtra government on Tuesday, announced that a special investigation team (SIT) would be constituted for investigating into Bitcoin fraud that runs into crores.
Minister of state for home Deepak Kesarkar made a statement in this regard while replying to a calling attention motion by MLCs Hemant Takle, Sunil Tatkare, Narendra Patil and others in the council.

He said a panel of Economic Offences Wing (EOW), under additional director general of police, was also formed looking into the scope of the scam.

Earlier, the members pointed out that a big number of people were duped through the Bitcoin scam in state and also from neighbouring Karnataka. They said the Reserve Bank of India (RBI) had already declared Bitcoin as illegal, still no steps were taken by the state government to prevent people from falling prey to it. They said large number of complaints were being received by the police station in this regard and there was urgent need to catch the fraudsters.

The members also stated that accused like Lakhan Singh were hiding in Dubai and had purchased big properties there.

The minister then informed that the government was making all efforts to nab the culprits and recently Pune police had recovered about 245 Bitcoins worth crores in market. He said, as the fraudsters had purchased properties in places like Dubai, it was difficult to receiver amount from them and the state was taking centre’s help in tracing them and auctioning their properties.