The founder of crypto investment platform BitConnect, Satish Kumbhani is being sought by the Indian police after a complaint was filed against him for defrauding a man of almost 220 Bitcoins (Rs. 43 crore).
A Pune-based lawyer filed an FIR at the Cyber Police station of Pune City Police. The FIR details that the complainant was defrauded of his original investment of 54 Bitcoins.
Further, he was also allegedly made to reinvest his returns of 166 Bitcoins into multiple crypto investment platforms.
The complainant named Kumbhani and six others responsible for these transactions which took place between between 2016 and June 2021.
Kumbhani was previously indicted for a $2.4 billion crypto scheme defrauding U.S. investors in February.
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