Ahmedabad: Ahmedabad branch of the Directorate of Enforcement (ED), has provisionally attached movable properties in the form of Crypto currencies, Gold and Cash (in INR and USD) worth Rs. 433 Crore (approx.) which are proceeds of crime in the case of Divyesh Darji and others under the provisions of the Prevention of Money-Laundering Act (PMLA), 2002, the central agency said on Monday.

ED initiated an investigation based on FIRs registered by the CID, Crime, Police Station, Surat under various sections of IPC, 1860, Gujarat Protection of Interests of Depositors Act (GPID), 2003 and Prize Cheat Money Circulation Scheme Banning Act, 1978 against Divyesh Darji, Satish Kumbhani, Shailesh Bhatt and other accused persons. During investigation under the PMLA, it was found that the said properties were not acquired by the concerned persons out of their legitimate income and the same were derived/obtained as the result of commission of Scheduled Offences under the PMLA.

“ED investigation revealed that during the period from November 2016 to January 2018, Satish Kumbhani, the promoter of Bitconnect Coin (a cryptocurrency), established a worldwide network of promoters and induced the public to invest in various investment schemes related to Bitconnect Coin by offering huge returns. As per the investigation done so far, Satish Kumbhani and his associates had raised huge investments and cheated the investors. Later, a part of the Proceeds of Crime which were acquired by Satish Kumbhani and his associates, were extorted by Shailesh Bhatt and his accomplices by kidnapping two of the associates of Satish Kumbhani,” the official release further stated.

The provisionally attached movable properties are a part of the proceeds of crime acquired by Satish Kumbhani, Shailesh Bhatt and their accomplices. The ED also stated that further investigation is under progress. DeshGujarat