An Indian court has sentenced a former legislative assembly member of the Bharatiya Janata Party (BJP) to life in prison for his involvement in a high-profile bitcoin extortion plot.  Nalin Kotadiya and thirteen other individuals were convicted for the 2018 kidnapping of a Surat businessman and extorting 200 bitcoins from him. Life Sentences in 2018 Extortion Case A local court in Ahmedabad delivered today’s verdict, concluding the high-profile case that dates back to 2018.  Fourteen people, including former BJP legislative assembly member Nalin Kotadiya and ex-Indian Police Service officer Jagdish Patel, were found guilty and sentenced to life in prison. One individual was acquitted. This landmark ruling concludes an extensive trial that exposed a corruption trail involving high-profile individuals in Gujarat. A Crime Unraveled The case began with the kidnapping of Shailesh Bhatt, a businessman and cryptocurrency trader from Surat. According to reports, individuals pretending to be from India’s Central Bureau of Investigation (CBI) lured him to a meeting in Gandhinagar.  Instead, he was abducted from a gas station. A team of police officers using official government vehicles then took Bhatt to a farmhouse. The accused seized 200 Bitcoins, valued at approximately ₹12 crore at the time, and demanded a ransom of ₹32 crore.  The investigation further revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident named Dhawal Mawani. Upon learning this, the accused—including Nalin Kotadiya—conspired to rob Bhatt. Unmasking the Conspirators Bhatt set off the investigation when he submitted a formal complaint to the Indian Criminal Investigation Department (CID).  As the investigation deepened, the CID arrested ten police officers, including Anant Patel and Surat-based lawyer Ketan Patel. Their interrogations soon revealed the names of Jagdish Patel and Kotadiya. Kotadiya went into hiding, and a non-bailable warrant was issued before his eventual arrest.  The scope of the conspiracy widened further with the involvement of a genuine CBI Inspector, Sunil Nair. Nair reportedly demanded a bribe from Bhatt and threatened to initiate an investigation against him. The court’s decision ultimately marked a major step against corruption and criminal activity involving police officials, politicians, and cryptocurrency.An Indian court has sentenced a former legislative assembly member of the Bharatiya Janata Party (BJP) to life in prison for his involvement in a high-profile bitcoin extortion plot.  Nalin Kotadiya and thirteen other individuals were convicted for the 2018 kidnapping of a Surat businessman and extorting 200 bitcoins from him. Life Sentences in 2018 Extortion Case A local court in Ahmedabad delivered today’s verdict, concluding the high-profile case that dates back to 2018.  Fourteen people, including former BJP legislative assembly member Nalin Kotadiya and ex-Indian Police Service officer Jagdish Patel, were found guilty and sentenced to life in prison. One individual was acquitted. This landmark ruling concludes an extensive trial that exposed a corruption trail involving high-profile individuals in Gujarat. A Crime Unraveled The case began with the kidnapping of Shailesh Bhatt, a businessman and cryptocurrency trader from Surat. According to reports, individuals pretending to be from India’s Central Bureau of Investigation (CBI) lured him to a meeting in Gandhinagar.  Instead, he was abducted from a gas station. A team of police officers using official government vehicles then took Bhatt to a farmhouse. The accused seized 200 Bitcoins, valued at approximately ₹12 crore at the time, and demanded a ransom of ₹32 crore.  The investigation further revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident named Dhawal Mawani. Upon learning this, the accused—including Nalin Kotadiya—conspired to rob Bhatt. Unmasking the Conspirators Bhatt set off the investigation when he submitted a formal complaint to the Indian Criminal Investigation Department (CID).  As the investigation deepened, the CID arrested ten police officers, including Anant Patel and Surat-based lawyer Ketan Patel. Their interrogations soon revealed the names of Jagdish Patel and Kotadiya. Kotadiya went into hiding, and a non-bailable warrant was issued before his eventual arrest.  The scope of the conspiracy widened further with the involvement of a genuine CBI Inspector, Sunil Nair. Nair reportedly demanded a bribe from Bhatt and threatened to initiate an investigation against him. The court’s decision ultimately marked a major step against corruption and criminal activity involving police officials, politicians, and cryptocurrency.

Former Indian Politician Convicted in Bitcoin Extortion Case

An Indian court has sentenced a former legislative assembly member of the Bharatiya Janata Party (BJP) to life in prison for his involvement in a high-profile bitcoin extortion plot. 

Nalin Kotadiya and thirteen other individuals were convicted for the 2018 kidnapping of a Surat businessman and extorting 200 bitcoins from him.

Life Sentences in 2018 Extortion Case

A local court in Ahmedabad delivered today’s verdict, concluding the high-profile case that dates back to 2018. 

Fourteen people, including former BJP legislative assembly member Nalin Kotadiya and ex-Indian Police Service officer Jagdish Patel, were found guilty and sentenced to life in prison. One individual was acquitted.

This landmark ruling concludes an extensive trial that exposed a corruption trail involving high-profile individuals in Gujarat.

A Crime Unraveled

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

According to reports, individuals pretending to be from India’s Central Bureau of Investigation (CBI) lured him to a meeting in Gandhinagar. 

Instead, he was abducted from a gas station. A team of police officers using official government vehicles then took Bhatt to a farmhouse.

The accused seized 200 Bitcoins, valued at approximately ₹12 crore at the time, and demanded a ransom of ₹32 crore. 

The investigation further revealed that Bhatt had previously stolen Bitcoins worth ₹150 crore from another Surat resident named Dhawal Mawani. Upon learning this, the accused—including Nalin Kotadiya—conspired to rob Bhatt.

Unmasking the Conspirators

Bhatt set off the investigation when he submitted a formal complaint to the Indian Criminal Investigation Department (CID). 

As the investigation deepened, the CID arrested ten police officers, including Anant Patel and Surat-based lawyer Ketan Patel.

Their interrogations soon revealed the names of Jagdish Patel and Kotadiya. Kotadiya went into hiding, and a non-bailable warrant was issued before his eventual arrest. 

The scope of the conspiracy widened further with the involvement of a genuine CBI Inspector, Sunil Nair. Nair reportedly demanded a bribe from Bhatt and threatened to initiate an investigation against him.

The court’s decision ultimately marked a major step against corruption and criminal activity involving police officials, politicians, and cryptocurrency.

Market Opportunity
Cyberlife Logo
Cyberlife Price(LIFE)
$0.0369
$0.0369$0.0369
-14.18%
USD
Cyberlife (LIFE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

WLD Price Prediction: Targets $0.73 by February as Bullish Momentum Builds

WLD Price Prediction: Targets $0.73 by February as Bullish Momentum Builds

The post WLD Price Prediction: Targets $0.73 by February as Bullish Momentum Builds appeared on BitcoinEthereumNews.com. Zach Anderson Jan 15, 2026 09:09 Worldcoin
Share
BitcoinEthereumNews2026/01/16 02:05
Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto

Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto

The post Top Solana Treasury Firm Forward Industries Unveils $4 Billion Capital Raise To Buy More SOL ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement &nbsp &nbsp Forward Industries, the largest publicly traded Solana treasury company, has filed a $4 billion at-the-market (ATM) equity offering program with the U.S. SEC  to raise more capital for additional SOL accumulation. Forward Strategies Doubles Down On Solana Strategy In a Wednesday press release, Forward Industries revealed that the 4 billion ATM equity offering program will allow the company to issue and sell common stock via Cantor Fitzgerald under a sales agreement dated Sept. 16, 2025. Forward said proceeds will go toward “general corporate purposes,” including the pursuit of its Solana balance sheet and purchases of income-generating assets. The sales of the shares are covered by an automatic shelf registration statement filed with the US Securities and Exchange Commission that is already effective – meaning the shares will be tradable once they’re sold. An automatic shelf registration allows certain publicly listed companies to raise capital with flexibility swiftly.  Kyle Samani, Forward’s chairman, astutely described the ATM offering as “a flexible and efficient mechanism” to raise and deploy capital for the company’s Solana strategy and bolster its balance sheet.  Advertisement &nbsp Though the maximum amount is listed as $4 billion, the firm indicated that sales may or may not occur depending on existing market conditions. “The ATM Program enhances our ability to continue scaling that position, strengthen our balance sheet, and pursue growth initiatives in alignment with our long-term vision,” Samani said. Forward Industries kicked off its Solana treasury strategy on Sept. 8. The Wednesday S-3 form follows Forward’s $1.65 billion private investment in public equity that closed last week, led by crypto heavyweights like Galaxy Digital, Jump Crypto, and Multicoin Capital. The company started deploying that capital this week, announcing it snatched up 6.8 million SOL for approximately $1.58 billion at an average price of $232…
Share
BitcoinEthereumNews2025/09/18 03:42
WhatsApp keeps doors open to rival AI bots in Brazil

WhatsApp keeps doors open to rival AI bots in Brazil

The post WhatsApp keeps doors open to rival AI bots in Brazil appeared on BitcoinEthereumNews.com. Meta Platform’s messaging services app, WhatsApp, is reportedly
Share
BitcoinEthereumNews2026/01/16 01:58