The Supreme Court on Monday pulled up Ajay Bhardwaj, the accused in the Gain Bitcoin scam, for not complying with its direction to divulge details of the username and password of cryptocurrency wallets to the Enforcement Directorate (ED).
Additional Solicitor General Aishwarya Bhardwaj, representing the ED, submitted before a bench headed by Justice D.Y. Chandrachud that Bhardwaj was not cooperating with the investigation agency, and he has not shared the username and password of the crypto currency wallets.
The ED, in a status report, said on March 28, during the course of hearing before the top court, the counsel for the petitioner made a statement that some part of the material is in possession of Pune police and the petitioner has disclosed relevant details.
“The petitioner never appeared before the Pune police at any point of time nor any details/ material pertaining to crimea..registered at Dattawadi Police Station and Nigadi Police Station were provided by the petitioner and the contention of the petitioner is completely false and misleading,” said the report.
Bhati said Bitcoin fraud is not through normal banking channels, and the wallets are with the family members. “Here proceedings are under PMLA, IPC. Bitcoins are taxable as an asset class. It’s a ponzi scheme”, said Bhati, seeking custodial interrogation of Bhardwaj.
The bench, also comprising Justice Surya Kant, told…
