Another Police Official Arrested In Alleged Bitcoin Extortion Plot

A police superintendent has been arrested in India on suspicions that he is connected to an extortion scheme against a local businessman.

AccessTimeIconApr 24, 2018 at 1:00 a.m. UTC
Updated Aug 18, 2021 at 8:53 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Yet another high-ranking police official in the Indian state of Gujurat has been taken into custody in connection with a $1 million bitcoin extortion scheme.

According to the Hindustan Times, Amreli police superintendent Jagdish Patel was arrested Sunday on suspicion that he helped a group of police officers detain a local resident after which he was forced to give up his bitcoin. Police inspector Anant Patel, who is also based in Amreli, was similarly arrested last week and will be questioned at the same time as Jagdish Patel.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • As previously reported, Anant Patel was one of 10 police officers accused of kidnapping, attempted extortion and corruption after businessman Shailash Bhatt, who alleges he was abducted, beaten and forced to turn over 200 bitcoins – an amount worth roughly $1.7 million at press time prices.

    Two other locals were also allegedly abducted during the scheme, as alleged by the state's Crime Investigation Department, which launched an investigation earlier this month following the complaints.

    Anant Patel was previously thought to be the highest-ranking official related to the case, with the nine other suspects serving as constables.

    But while arrests have been made, police director-general Ashish Bhatia said officials have not yet verified that the 200 bitcoins were ever transferred from Bhatt to Anant Patel.

    The Hindustan Times also reported that Nalin Kotadia, a former elected official, has also been detained as a potential accomplice of the alleged scheme. It is unclear what role he may have played in the original abduction.

    Police car lights image via Shutterstock

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.