Tag: Shailesh Babulal Bhatt

Extreme Revenge: An Indian Victim of the BitConnect Ponzi Scheme Arrested Over $146 Million Extortion Case!

Crypto Schemes Ben - August 19, 2024

This is a Bollywood story: The Indian Enforcement Directorate (ED) announced the arrest of Shailesh Babulal Bhatt, a Gujarat resident, in connection with a massive cryptocurrency extortion case valued at over ₹1,200 crore (approximately $148 million). Bhatt, who has a history of involvement in kidnapping and extortion incidents, was apprehended. He is one of the many victims of the notorious $2.4-Billion BitConnect crypto Ponzi scheme.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

Disclaimer: FinTelegram is an independent intelligence and compliance platform and does not provide investment, legal, or financial advice. Content published on this website, including references and links to third-party sources, is provided for informational, contextual, and educational purposes only and does not constitute a recommendation, endorsement, or solicitation. Readers must make their own independent assessment and obtain professional advice where appropriate. Past events and referenced materials are not a track record and should not be relied upon as an indicator of future results.