NEW DELHI: Movable and immovable properties amounting to Rs 4.56 crore were provisionally attached by the Directorate of Enforcement (ED), Dehradun, in the BTC Fund Scam that allegedly involved illegal sale of cryptocurrency, an official said on Saturday.
The seized assets, including four immovable properties and bank balances, belong to accused Hemant Sharma and others who allegedly cheated people through a website named ‘BTCFUND.in’.
The properties were seized under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. These belong to Hemant Sharma, son of Ishwar Sharma, resident of Rajpur Road, Dehradun, as per a statement.
The ED-initiated investigation on the basis of a First Information Report registered by Police Station Rajpur, Dehradun, and registered by Police Station Dineshpur, District Udham Singh Nagar, Uttarakhand, under penal provisions related to cheating against Hemant Sharma and others.
ED investigation revealed that Hemant Sharma had fraudulently received substantial amounts from sale of cryptocurrency, which were invested by multiple people on the site named BTCFUND.in, controlled by Hemant Sharma and other co-accused.
Hemant Sharma has lured various persons on the pretext of high return and claimed that many foreign nationals were also associated with the company and people from all over India had invested in the site.
The ED investigation revealed that the proceeds of crime generated by committing the offence, of cheating various people, were further utilised for acquiring four immovable properties by Hemant Sharma and a part of these was deposited in his bank account.
In 2019, the Uttarakhand capital was rocked by another Bitcoin scam allegedly involving Rs 485 crore. The scam revolved around two cryptocurrency companies – BITZEX and BTC BITZ COIN SHUKKOR – which lured investors with high returns.
The mastermind of the scam was murdered and police arrested seven people, including three from Mallapuram in Kerala. The three accused were taken into custody from Mandowala in Dehradun just before they were planning to surrender in court.