Crypto currency worth Rs 6 crore seized from ex-IPS officer Ravindranath Patil and cyber expert Pankaj Ghode

by Team Deccan Express
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Pune : Deccan ExpressPune Cyber Crime | The Pune Cyber Police have seized crypto currency amounting to over Rs 6 crore from cyber expert Pankaj Ghode and former IPS officer Ravindranath Patil. They were arrested in the bitcoin crypto currency fraud case. First Class Judicial Magistrate Shraddha Dolare remanded them in judicial custody.


Pankaj Ghode (38), a resident of Tadiwala road, and Ravindranath Patil (45), a resident of Bibvewadi, were appointed for technical help in the crypto currency fraud case.


Patil has filed a bail application after his judicial custody was granted. His wife Kanchan Patil and brother Amarnath Patil have filed pre-arrest bail pleas in the court. Hearing on their applications will take place on Monday (March 28). The police investigation revealed that Patil had transferred crypto currency to wallets belonging to him and his relatives. Various crypto currencies have been seized from both the accused as per the current rate.


More crypto currency is being seized. Properties of the accused, who have appropriated money in the scam, are also being confiscated. The remand report submitted by the police in the court stated that concrete proofs are being collected against the accused and a charge sheet has to be filed on time.


PI Ankush Chintaman is investigating the matter further.


What is the case?

The main accused in the case, Amit Bhardwaj and Vivek Kumar Bharadwaj, cheated around 450 people in the bitcoin fraud case. The first FIRs in this fraud were filed at the Dattawadi and Nigdi police stations. After their arrests, many such cases were registered against them across the country. In all, 17 people were arrested in the fraud. The police were not well equipped to investigate the crypto currency fraud. Hence, they had appointed Ghode as a cyber expert and former IPS officer Patil to help them investigate the case. However, Ghode and Patil misused the powers given to them and cheated the police.


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