Indian Politician Jailed in Bitcoin Extortion Case

A former member of India's Bharatiya Janata Party (BJP) has been sentenced to life in prison for his involvement in a Bitcoin extortion scheme.

Nalin Kotadiya and thirteen others were convicted for the 2018 kidnapping of a Surat businessman, from whom they extorted 200 Bitcoins.

Life Sentences Handed Down in 2018 Bitcoin Extortion Case

An Ahmedabad court delivered the verdict, concluding a high-profile case that began in 2018. Fourteen individuals, including ex-BJP legislative assembly member Nalin Kotadiya and former Indian Police Service officer Jagdish Patel, received life sentences. One person was acquitted.

The trial exposed a corruption network involving prominent figures in Gujarat.

The Crime Unraveled

The case originated with the kidnapping of Shailesh Bhatt, a businessman and cryptocurrency trader from Surat.

Reports indicate that individuals posing as Central Bureau of Investigation (CBI) agents lured Bhatt to a meeting in Gandhinagar.

He was then abducted and taken to a farmhouse by police officers in government vehicles. The accused seized 200 Bitcoins, then valued at approximately ₹12 crore, and demanded a ransom of ₹32 crore.

The investigation revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident. The accused, including Kotadiya, then conspired to rob Bhatt.

Unmasking the Conspirators

Bhatt's complaint to the Indian Criminal Investigation Department (CID) initiated the investigation.

The CID arrested ten police officers, including Anant Patel and lawyer Ketan Patel, whose interrogations implicated Jagdish Patel and Kotadiya. Kotadiya went into hiding before his arrest.

A CBI Inspector, Sunil Nair, was also implicated for allegedly demanding a bribe from Bhatt and threatening an investigation.

The court's decision marks a significant move against corruption and criminal activity involving police, politicians, and cryptocurrency.