The Indian police have launched an investigation into Bitconnect and booked its founder after an investor reported being defrauded by the global crypto 'Ponzi scheme.' cryptocurrency bitcoin $BTC
Indian Police Search for Bitconnect Founder After the US Indicted Him for Defrauding Crypto Investors
The Pune Police launched a probe into the multi-crore crypto scheme and booked its founder, Satish Kumbhani, after a local lawyer lodged a first information report on Tuesday. He also named six others involved in the scheme. The lawyer stated in the FIR that he was defrauded for close to 220 bitcoins.
Kumbhani, an Indian national, is already being investigated by the Federal Bureau of Investigation . The U.S. Bitconnect is an alleged fraudulent cryptocurrency investment platform that reached a peak market capitalization of $3.4 billion.
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