A key accused in the BTC Fund Scam, involving the illegal sale of cryptocurrency and investor fraud, has been sent to four days of ED custody by a Special PMLA Court in Dehradun. Hemant Ishwar Sharma, the accused, was arrested after incriminating documents and electronic devices were seized during searches conducted by the Directorate of Enforcement (ED). The ED initiated the investigation based on FIRs registered against Sharma for cheating investors through the website BTCFUND.IS.
Sharma, who fraudulently collected money from the public by promising high returns on Bitcoin investments, diverted the proceeds to his personal bank accounts and invested in properties under his name, constituting money laundering. The ED has provisionally attached movable and immovable properties worth approximately Rs 4.56 crore, representing the proceeds of crime. The investigation also revealed that Sharma attempted to alienate the attached assets in violation of the attachment orders.
