ED raids premises of Gaurav Mehta as links to Maharashtra bitcoin case emerge

The locations of Mehta in Chhattisgarh's capital city Raipur are being covered under the provisions of the Prevention of Money Laundering Act (PMLA)

The Enforcement Directorate on Wednesday (November 20, 2024) conducted searches at the Chhattisgarh premises of Gaurav Mehta, allegedly linked to a bitcoin transactions case in poll-bound Maharashtra, official sources said.

The searches are being conducted as part of an ongoing money laundering probe.

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The locations of Mehta in Chhattisgarh's capital city Raipur are being covered under the provisions of the Prevention of Money Laundering Act (PMLA), the sources said.

The BJP has accused NCP leader and Baramati MP Supriya Sule and Congress leader Nana Patole of allegedly using Bitcoins illegally to fund the current elections as its leaders played a recording purportedly claiming it to be Ms. Sule's voice. Mr. Mehta is allegedly linked to these transactions.

Ms. Sule has denied the allegations.

Polling for the 288-member Maharashtra Assembly is taking place on Wednesday.

Sources said the ED is probing the role of Mehta and some others on charges of collecting "huge" amounts of funds in the form of bitcoins (worth ₹6,600 crore in 2017) from gullible public with the false promises of 10% per month return in the form of bitcoins.

The case stems from police FIRs filed in Maharashtra and Delhi.

Published - November 20, 2024 03:28 pm IST