AHMEDABAD: A Surat court on Friday remanded three accused persons — Jignesh Moradia , Manoj Kyada and Umesh Goswami — in police custody for seven days for the alleged kidnappings of Dhaval Mavani and Piyush Savaliya and extortion of cryptocurrency worth Rs 155 crore from them. Investigators said on interrogating the accused, it emerged that apart from the 8kg of gold seized from Moradiya, he had also stashed Rs 4 crore cash at his farmhouse. Mavani and Savaliya were employees of Bit Connect, a cryptocurrency investment firm. They were allegedly kidnapped and then extortion of Bitcoins, Litecoins and cash, worth total of Rs 155.21 crore.
CID crime officials said they have begun the process to recover the money and will finish it by Saturday. “Moradiya has confessed that he had encashed 500 Bitcoins for Rs 25 crore and bought gold with the money,” a CID crime official said.
“We are yet to recover 10 more Bitcoins that are in Moradiya’s blockchain wallet. Thus far, we have recovered Bitcoins, gold and cash worth Rs 15 crore. The seized Bitcoins are in a wallet created by us. We will submit an application in court asking permission to encash the Bitcoins and deposit proceeds in an account specially opened with SBI for the case,” said a CID crime official.
CID officials said they have information that some 150 Bitcoins are in the blockchain wallet of Manoj Kyada. “We are interrogating him to recover the Bitcoins,” said an investigator. The key accused in the kidnapping case, Shailesh Bhatt is still absconding. CID have been dispatched to locate him. “We have also former BJP MLA Nalin Kotadiya on our radar and are trying to locate. He is one of the accused in the alleged kidnapping of Shailesh Bhatt,” a CID crime official said.