The police in India moved to the second phase of the investigation against Silesa Also for extortion of 2000 bitcoins on the promoters of the Indian branch of the fraudulent project Bitconnect. The guards are also exploring digital wallets and Bank accounts related to Bitconnect. It is reported by The Times Of India.
According to police, in December of 2017, the company refused to Bhatt in the promised payment, and he, along with eight other investors selected one of the promoters of 2,000 bitcoins. A month Also arrested, and his nephew Nikunja found 12 bitcoins. These bitcoins, and also confiscated in the first phase of the investigation, after the exchange to Indian rupees will be transferred to the Reserve Bank of India.
Bhatt and other detainees claimed that the promoters promised a very high yield (up to 365% per year), which will generate a special software that calculates the lowest and the highest point of bitcoins. The platform has produced one of the fastest growing in the 2017 tokens (BCC) and guaranteed income to investors in the 40% in the month, offering a four-tier investment system based on the initial Deposit amount and daily return on investment (ROI) in the amount of 1% regardless of the amount of the Deposit. After a number of serious legal issues platform radically changed the format, resulting in a token in an instant has lost 96% of value (read more about the rise and fall of Bitconnect can be read at this link).