He has been charged with making money from 8,000 people through his company GainBitcoin. He is being brought to Pune, and as per reports, he played the fool by acting in Dubai and complain about the heart attack at Dubai Airport and on the other hand according to the crime branch he had links with Pakistan agency ISI too which is very shameful for the nation.
According to the reports, Amit owns many companies including GBMiners and GainBitcoin, both of these companies are cryptocurrency based, and subsidiaries of Hong Kong-based Amaze Mining and Research Ltd.
In the past, he also made people fall into the trap for the MLM scheme. This scheme was enrolling the number of members and ask them to invest on which use to give the members a cut or commission on their investment, that was also one of the biggest scams in the past made by Amit Bhardwaj. On the other hand, he also opened one of the biggest firm named HighKart which allowed Bitcoin-based payments. However, it was shut down in the year 2016 by Bhardwaj and Media reports hint that Bhardwaj used to lure investors by promising 10 percent of investment value each month for 18 months.
As per Government information, in these 17 months over $3.5 Billion has been into the transaction and the Cryptocurrency transactions are on the rise. However, the Securities Exchange Board of India and Reserve Bank of India is primarily focusing and always mentioning that Cryptocurrencies are illegal in India.
The arrest will be the example for many of the entrepreneurs who will be getting relief from his arrest.