In a significant development following the Supreme Court’s directive to consolidate all FIRs related to the GainBitcoin scam, the Enforcement Directorate (ED) has apprehended Simpy Bhardwaj, the wife of Ajay Bhardwaj, a key figure in the alleged Ponzi scheme. The ED has accused Simpy Bhardwaj of actively participating in defrauding investors by luring them with promises of substantial returns on their investments.
Simpy Bhardwaj was arrested on December 17, alongside Ajay Bhardwaj, and both are accused of orchestrating fraudulent activities that led to financial losses for unsuspecting investors. The City Session Court in Mumbai has granted custody of Simpy Bhardwaj to the ED until December 26, while Ajay Bhardwaj and Mahendra Bhardwaj have been declared absconders by the ED.
The Supreme Court, in a hearing on December 13, ordered a CBI investigation into the GainBitcoin case, directing the ED to continue its parallel investigation under the Prevention of Money Laundering Act (PMLA), 2002. The court emphasized the need for a consolidated investigation into the various FIRs related to the Ponzi scheme.
Role of Simpy Bhardwaj:
The ED alleges that Simpy Bhardwaj played an active role in enticing investors and facilitating the transfer of illicit gains from the Bitcoin scam to overseas companies. These funds were reportedly utilized for acquiring properties abroad. The agency conducted search operations at the residences of Simpy Bhardwaj and Ajay Bhardwaj, leading to the seizure of assets, including three cars, documents, and jewelry valued at INR 18.91 lakh.
The ED’s ongoing investigation has resulted in the attachment of properties totaling INR 69 Cr in connection with the GainBitcoin scam. GainBitcoin is identified as one of the largest global Ponzi schemes, causing financial losses to approximately 1 Lakh investors.
Insiders familiar with the case assert that the ED and Pune Police’s special investigation team have only scratched the surface of the operation. The scam, orchestrated by the Bhardwaj brothers – Amit, Ajay, and Vivek – alongside their father Mahendra Kumar and other associates, involved the establishment of Variabletech in Singapore. This entity launched the GainBitcoin MLM scheme, offering Bitcoin mining contracts with promised monthly returns, according to the Pune Police’s chargesheet.
As investigations continue, victims of the scam are seeking a comprehensive interrogation of Ajay Bhardwaj, who played a crucial role in managing wallets and overall operations in recent years.
