India: Interim Bail Granted to Two Brothers Accused in $300 Mln Crypto Ponzi Scheme
4 April 2019 5:04 PM IST
The Supreme Court of India has granted interim bail to two brothers who are among the chief suspects accused of running a Bitcoin (BTC)-related Ponzi scheme.
- Amit Bhardwaj and his brother, Vivek Bharadwaj, have succeeded in their appeal for interim bail, which they had reportedly requested in November 2018, with Amit asked to deposit ₹10 crores (~$1.5 million) for the bail, Inc42 writes.
- As previously reported , the Bhardwaj brothers had been arrested on April 4, 2018 for allegedly defrauding around 8,000 investors out of ₹2,000 crores (about $300 million) via the GainBitcoin scheme, which they co-founded in 2013.
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