Crypto Stash: Phone Left Behind By Fleeing Suspect Points To Crypto Stash | Mumbai News
MUMBAI: A mobile phone left behind by a money laundering case accused, Ajay Bhardwaj, while fleeing his Delhi home during the Enforcement Directorate’s search operation, had provided the agency a clue about him possessing a substantial amount of money in the form of crypto currency. The crypto currency was allegedly acquired after defrauding investors.The ED seized the phone for a forensic examination.
Ajay Bhardwaj had protection from arrest in the case but the ED officials stated that the court vacated the protection a few days ago. Immediately after that the ED raided his house, a bungalow in New Delhi last Friday surprising the accused,
While the ED raid was continuing, Ajay’s wife Smipy allegedly entered the house forcibly along with a few lawyers. The lawyers engaged the ED officials in a discussion stating that the court had given protection to Ajay in the case.
While they were busy in the discussion, Ajay Bhardwaj, walked out of his house after leaving behind his phone. The security staff along with the ED team didn’t stop Ajay at the bungalow gate as they didn’t suspect anything wrong. The ED officials then seized his phone and after completing the raid, they arrested Simpy in the money laundering case.
Sources said that during examination of Ajay’s phone, ED officials found that he had maintained a crypto wallet and was in the process of encashing bitcoins. It also provided clues about his active involvement in the fraud and the ED officials investigating if he was the brain behind the crime.
ED alleged that a company, Variabletech Private Ltd, Singapore, was formed by Ajay Bhardwaj, his deceased brother Amit Bhardwaj, and they had lured investors to invest Bitcoins by promising much higher returns in Bitcoins and in the crypto currency developed by their company. They told the investors that their company had introduced a scheme for investors wherein they could buy the Bitcoins from any crypto currency exchange or from their company and then invest their Bitcoins into Variabletech Private Ltd for high returns. But they failed to return the investors’ money.
The accused had allegedly collected Rs 20,000 crore worth Bitcoin which they kept into different crypto wallets.
Ajay Bhardwaj had protection from arrest in the case but the ED officials stated that the court vacated the protection a few days ago. Immediately after that the ED raided his house, a bungalow in New Delhi last Friday surprising the accused,
While the ED raid was continuing, Ajay’s wife Smipy allegedly entered the house forcibly along with a few lawyers. The lawyers engaged the ED officials in a discussion stating that the court had given protection to Ajay in the case.
While they were busy in the discussion, Ajay Bhardwaj, walked out of his house after leaving behind his phone. The security staff along with the ED team didn’t stop Ajay at the bungalow gate as they didn’t suspect anything wrong. The ED officials then seized his phone and after completing the raid, they arrested Simpy in the money laundering case.
Sources said that during examination of Ajay’s phone, ED officials found that he had maintained a crypto wallet and was in the process of encashing bitcoins. It also provided clues about his active involvement in the fraud and the ED officials investigating if he was the brain behind the crime.
ED alleged that a company, Variabletech Private Ltd, Singapore, was formed by Ajay Bhardwaj, his deceased brother Amit Bhardwaj, and they had lured investors to invest Bitcoins by promising much higher returns in Bitcoins and in the crypto currency developed by their company. They told the investors that their company had introduced a scheme for investors wherein they could buy the Bitcoins from any crypto currency exchange or from their company and then invest their Bitcoins into Variabletech Private Ltd for high returns. But they failed to return the investors’ money.
The accused had allegedly collected Rs 20,000 crore worth Bitcoin which they kept into different crypto wallets.
