New Delhi [India], March 17 : The Rouse Avenue Court on Tuesday remanded accused Ayush Varshney to judicial custody till March 30. This marks the first arrest made by the Central Bureau of Investigation (CBI) in the Bitcoin scam case.
Varshney, an IIT topper, was arrested at the airport on the basis of a Look Out Circular (LOC) while he was attempting to flee to Sri Lanka.
Link Additional Chief Judicial Magistrate (ACJM) Neetu Nagar remanded Ayush Varshney in judicial custody till March 30. He has been arrested in a case registered under sections 406 and 420 of the IPC and the Information Act.
The accused was represented by Advocate Dhruv Gupta. It is stated that the Accused is the co-founder of Darvin Lab.
As per CBI, this case is associated with the Gain Bitcoin scheme started in 2015. It is alleged that this scheme was started by Amit Bharadwaj (now deceased), his brother Ajay Bhardwaj and his network.
It is alleged that the investors were induced with a return of 10 per cent. In this matter, several FIRs have been registered by the Delhi police and cases have been registered in the Enforcement Directorate.