The Enforcement Directorate on Tuesday has announced the arrest of Simpy Bhardwaj, aka Simpy Gaur, and the confiscation of 3 luxury cars along with jewellery as a result of recent raids targeting the promoters of a ‘bitcoin ponzi scheme.’
The scheme accumulated public deposits amounting to Rs 6,600 crore.
Simpy Bhardwaj, alias Simpy Gaur, was apprehended on December 17.
After appearing before a special PMLA court in Mumbai on the following day, she was remanded to ED custody until December 26, as stated by the agency.
The investigation is directed towards Variable Pte Ltd and others involved in the ‘Gain Bitcoin Ponzi scheme.’
Multiple FIRs filed by the Maharashtra and Delhi Police against the company and its promoters, including Simpy Bhardwaj, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Mahender Bhardwaj, and several MLM agents, form the basis of the money laundering case.
According to the ED, the police complaints alleged that approximately Rs 6,600 crore in Bitcoin was collected from the public in the guise of investment.
The probe revealed that Simpy Bhardwaj, along with her husband Ajay Bhardwaj and MLM agents, actively played a role in enticing innocent investors with promises of substantial returns, ultimately defrauding the public through fraudulent means.
The ED claimed that the illicit gains from this scheme were transferred to overseas companies, used to acquire properties abroad, and that Simpy Bhardwaj was actively involved in generating, concealing, and layering the proceeds of crime.
In the course of the raids, 3 cars, including a Mercedes and an Audi, along with “incriminating” documents and jewelry worth Rs 18.91 lakh were seized.
Additionally, assets amounting to Rs 69 crore have been attached in the case.
The main accused, Ajay Bhardwaj and Mahender Bhardwaj, are currently absconding, according to the ED.
