Former BJP MLA Nalin Kotadiya arrested in high profile Bitcoin extortion case

Former BJP MLA Nalin Kotadiya who was accused in the multi-crore bitcoin extortion case in Gujarat has been arrested by Ahmedabad Crime Branch in Dhulia district of Maharashtra.

Kotadiya along with Superintendent of Police (Amreli Gujarat) Jagdish Patel and Police Inspector Anant Patel was an accused in kidnapping and extortion case of 176 bitcoins worth Rs 12 crore from Surat-based Builder Shailesh Bhatt in May, this year.

While both police officials and other nine accused in the case have already been arrested, Kotadiya was absconding since then. Kotadiya was declared as the proclaimed offender in the case after he failed to respond summons by Gujarat CID and appear before Ahmedabad Court.

In May, Kotadiya only released a press statement claiming that he was being "framed by the conspirators".

To recall, Shailesh Bhatt had lodged a complaint against the aforementioned police officers and Kotadiya for extortion of bitcoins he invested in a company called ‘Bit Connect Investment Company’.

According to officials, Bhatt and his accomplice including Kotadiyas's nephew Kirit Pladiya was abducted by the Amreli police officers for extortion. However, Paladiya who was the main accused in the case later made a deal with the police officers to file a case against Bhatt, reports DNA.

During the investigation, it was also founded that Bhatt was also involved in two extortion cases to recover his money. Following the strings of incidents, Gujarat CID Crime Branch had filed a fresh case against all including Bhatt, Kotadiya and the two police officers.

The report further added that Kotadiya allegedly received Rs 66 lakh of the money that was extorted from Bhatt. Of this Rs 25 lakh was recovered from his nephew in May.

For uninitiated, Bitconnect (‘Bit Connect Investment Company’) is the same firm which has been going under CID scanner for Rs 88,000 crore scam. Divyesh Darji, Satish Kumbhani, Dhavl Mavani, and Suresh Gorasiya were the promoters of the virtual currency company, which later shut down its operations in January, this year.

Last month, the mastermind of multicrore scam and Bitconnect (Asia head) Divyesh Darji was arrested by Gujarat CID from Delhi airport. Satish Kumbhani and other high profile personalities such as Mahendra Chaudhari are also accused in the case.