Fugitive accused in the USA BitConnectfounder Satish Kumbhani, now also wanted in India.
BitConnectfounder Satish Kumbhani disappeared in February after being accused of defrauding US investors with a $2.4 billion Ponzi scheme. Kumbhani, an investor’s loss bitcoinHe is wanted by Indian police after he filed a complaint against the .
An Investor Complained About BitConnect Founder
According to a police officer who spoke to the media about the complaint, the complaint, known as the Initial Information Report (FIR), came after a local lawyer said he had lost close to 220 Bitcoins, worth about $5.2 million, through multiple cryptocurrency investment platforms.
The unidentified lawyer gave the names of Kumbhani and six others to the police. Indian Express’According to the news, he said that a total of 220 Bitcoins were defrauded from his initial investment of 54 Bitcoin (BTC) to invest in platforms between 2016 and 2021, and then with the return of 166 Bitcoins.
Earlier this year, US officials said in a legal filing that Kumbhani had fled India and his whereabouts were unknown.
Founded in 2016, BitConnect was very popular in the mid-2017 ICO frenzy. It has raised billions of dollars from investors for a protocol that allegedly pays 10 percent of interest earnings through the BCC token. Users who referred other investors in this system had even more advantages.
