CBI officer blackmails Bitcoin businessman demanding 50 Million Indian rupees as hush money

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A recent investigation revealed that a CBI officer blackmailed a local businessman for his interaction with Bitcoin.

CBI officer blackmailed businessman for 50 million rupees

India Today revealed that the Central Bureau of Investigation (CBI) shed light unveiled that, Sunil Nair, one of their officers blackmailed a local Businessman for his Bitcoin interactions. Sunil demanded 50 million Indian Rupees (nearly 700,000 USD) for his actions.

CBI has pressed charges agent their officer Sunil for blackmailing the real-estate agent Shailesh Bhatt. Sunil had demanded 50 million rupees from him for earning “black money” via Bitcoin. The crime was committed nearly two years ago in February 2018.

CBI officer blackmailed Shailash by claiming that he would take action from the department of Income Tax unless he paid the demanded sum. CBI has only issued the first information report (FIR) now that contains details regarding the case.

The report shows that Shailash’s business partner Kirit Madhubhai had assisted Sunil Nair in blackmailing the estate agent. Sunil had initially demanded 100 million rupees from the victim but later reduced it to 50 million after negotiating with Shailesh.

Indian blockchain community

India’s digital ledger community continues to grow despite unfavorable policies. Surprisingly, Tamil Nadu, a South-Indian state took the lead and would be the first Indian state to regulate blockchain-related projects. Indian bank has joined hands with Ripple to deploy blockchain for cross-border payments. Now crypto exchange Bithumb is looking to expand in India with the help of banking partners.

Recently, CBI has initiated the largest coordinated search in the country raiding nearly 200 banks to root out fraud. CBI dispatched over 1,000 officers across multiple states to search numerous banks including 15 nationalized ones.

Featured image by Flickr

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Ahmad Asghar

A first generation gamer at heart and tech buff by nature, have been involved in the tech sector for better part of a decade. With that insight and knowledge, he now covers blockchain, cryptocurrency and everything fintech so others can make sense of the industry.

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