New Delhi, Jan. 22 -- The Enforcement Directorate (ED), Ahmedabad, on Thursday said it has arrested Nikunj Pravinbhai Bhatt and Sanjay Kotadia in connection with a cryptocurrency fraud case involving BitconnectCoin and other offences.
Both accused were arrested and produced in the Special Court, PMLA, Ahmedabad, which has remanded them into ED's custody for four days.
The ED initiated its PMLA investigation based on two FIRs registered by the CID, Crime, Surat, against Shailesh Babulal Bhatt, Satish Kurjibhai Kumbhani, and others. According to one FIR, proceeds of crime were generated by Satish Kurjibhai Kumbhani and other accused persons, primarily by inducing the public to invest in Bitconnect Coin, which was owned by Kumbhani and contr...