Amit Bhardwaj a famous scammer who is widely known for his significant part in the fraud surrounding the GainBitcoin scam was given bail on the basis of medical conditions on the orders of the honourable Supreme Court of India on 4th April 2019. Along with Amit, his brother Vivek Bhardwaj, who was also involved in the bitcoin scam has also been given bail. Yet, the apex court ordered Amit to clear Rs 10 crore and his brother to give Rs 1 crore in order to get bail.
Talking to the media, Bhardwaj’s lawyer Deepak Parekh stated, “While Amit Bhardwaj has been granted interim bail based on his health ground, the Supreme Court granted bail to his brother, essentially based on the benefits of the incident.”
“Amit Bhardwaj has been given bail on the medical conditions. Still, he has been directed to pay, Rs 10 crore as a fine in the next six months and his brother Vivek Bhardwaj has also been ordered to pay Rs 1 crore. Every Monday he has to go to Shalimar Baug police station in New Delhi and acknowledge his presence. He has to live in Delhi for the time being. This legal fight will go on for a long time now,” a legal source told to the media.
Presently, the Enforcement Directorate had seized assets worth Rs 42.88 crore to Amit. The assets include six buildings of Amit Bhardwaj in countries like Dubai and apartments and bank balances in India of two of his purchasing agents. The ED had registered a criminal trial under the PMLA against Amit’s bitcoin firm GainBitcoin in the year 2018. He had stakes worth 80,000 bitcoins and assured investors of profits in his lately started cryptocurrency. Nevertheless, he squandered more than Rs 2,000 crore from 8,000 funders.
GainBitcoin was not the only investment by Amit which failed. He had also begun GBMiners, MCAP, and GB21, and the people in these firms too lost a lot of their hard earned money.
