Bitcoin Extortion Case: Crime often leaves us stunned, but some cases feel like they’ve come straight out of a thriller. One such case unfolded in Gujarat, where a Surat businessman became the target of a horrifying plot to extort cryptocurrency. On Friday, a special anti-corruption court in Ahmedabad handed life imprisonment to 14 people, including 11 police officers, a former BJP MLA, and others involved in the chilling Bitcoin extortion case from 2018.
A Conspiracy That Shook Gujarat
The court found the accused guilty of criminal conspiracy, kidnapping for ransom, illegal detention, and assault. Among them was Jagdish Patel, former Amreli district superintendent of police, and Nalin Kotadiya, a former BJP MLA from Amreli. All 11 police officials were also convicted under the Prevention of Corruption Act for misconduct, highlighting a serious abuse of power.
The case centered around Shailesh Bhatt, a businessman who had extracted bitcoins from an investor after putting money into an Rs 8,000-crore Surat firm, which later collapsed. When Kotadiya and ex-SP Patel learned of this, they hatched a plan to force Bhatt to hand over cryptocurrency. Bhatt was kidnapped and held at Keshav Farm near Gandhinagar on February 11, 2018, by police officers from Amreli.
Torture, Intimidation, and Extortion
During his illegal detention, Bhatt was beaten and threatened until he revealed that he had received 752 bitcoins from his business dealings, out of which 176 bitcoins were with his business partner, Kirit Paladiya. The criminals attempted to seize these bitcoins and extort further money from him. When their initial plan failed, they forced Bhatt to sell 34 bitcoins worth Rs 1.32 crore, showing the cold and calculated nature of the crime.
Following this, Bhatt lodged a complaint with the Union Home Ministry, leading to an FIR registered by the CID (Crime), Gandhinagar. The investigation eventually led to the arrest of 15 people connected to the case.
The Long Road to Justice
During the trial, 173 witnesses were examined, but 92 turned hostile, complicating the proceedings. The court even issued perjury notices to 25 witnesses who had retracted their statements, emphasizing the importance of honesty in the justice system. The trial reflected how corruption, both in public and private spheres, can compromise justice, but the verdict proved that the system can still hold perpetrators accountable.
The court also ordered the confiscation of gold ornaments seized from the ex-SP, which were sent to the Master of Mint in Mumbai, ensuring that ill-gotten wealth would not benefit the culprits.
Pending Cases and Continuing Investigations
The aftermath of the case revealed further complications. Bhatt himself faced investigations by the CID and the Enforcement Directorate for alleged extortion and money laundering. Additionally, cases are ongoing against CBI inspector Sunil Nair and Bhatt’s business partner, Kirit Paladiya, reflecting the complex and far-reaching consequences of financial crimes involving cryptocurrency.
A Strong Message from the Judiciary
The special judge, B B Jadav, made it clear that corruption and abuse of power would be met with the strongest possible action. The court emphasized that protecting the common man’s faith in the judicial system is paramount, and acts that undermine justice must be punished severely.
This case serves as a stark reminder that while digital assets like Bitcoin can offer opportunities, they can also become the center of greed, crime, and corruption. Justice, though delayed, eventually caught up with those who abused their positions for personal gain.
Disclaimer: This article is for informational purposes only and should not be considered legal advice. Legal outcomes may vary, and readers should consult official sources for precise case details.
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