Guj bitcoin extortion case: Amreli SP sent to police remand till May 1

A sessions court here today remanded Amreli Superintendent of Police (SP) Jagdish Patel, arrested for his alleged role in extorting bitcoins and cash from a builder, in police custody till May 1.

Patel was arrested by the Gujarat CID-Crime yesterday after he was questioned throughout the day at the department's office in Gandhinagar.

The court of sessions judge N C Rawal today allowed police remand of Jagdish Patel till May 1, even as the CID, which is investigating the case, had sought a 14-day remand saying his role in the case of kidnapping, extortion, and illegal detention of a realtor from Surat, Shailesh Bhatt, was revealed by policemen arrested in the case.

The CID said that Inspector Anant Patel, arrested earlier in the case, had said that the SP had given him Rs 40 lakh to distribute among other policemen, also arrested in the case, for legal expenses.

On April 8, the CID-Crime had registered a case against Anant Patel and others for allegedly kidnapping Bhatt and extorting bitcoins, a popular crypto-currency, and demanding Rs 32 crore from him.

Bhatt had also alleged that Anant Patel kidnapped him and extorted bitcoins at the behest of the Amreli SP.

Police had earlier said they were verifying Bhatt's claim of digitally transferring 200 bitcoins to Anant Patel.

The exchange rate of one bitcoin is over Rs 5 lakh at present, according to websites which track the prices of crypto-currencies.

Bitcoin is a type of digital money that is issued and normally controlled by its developers and used and accepted among the members of the virtual community.

The Centre has said it does not recognise bitcoin or any other crypto-currency as legal tender in India.