Title: Karnataka Government Launches Special Investigation into Controversial Bitcoin Scam
Subtitle: Siddaramaiah government forms committee to re-examine BJP-era scandal involving cryptocurrency fraud
BANGALORE – In a bid to unearth new revelations and bring the perpetrators to justice, the Siddaramaiah-led government in Karnataka has set up a special inquiry committee to re-investigate a high-profile Bitcoin scam that occurred during the previous Bharatiya Janata Party (BJP) regime.
The Bitcoin scam, which caused significant trouble for Chief Minister Basavaraj Boyam’s government at the time, saw Bengaluru-based hacker Srikrishna, also known as Sriki, being arrested by the Central Crime Branch. However, he was later released on bail. The incident shed light on Srikrishna’s alleged involvement in a fraudulent scheme that encompassed blocking the bank accounts of industrialists, wealthy individuals, and renowned companies not only in India but also internationally, with the assistance of foreign hackers.
The scandal sent shockwaves not only across Karnataka but throughout the entire country. Initially registered at the Cotton Petty police station in Bangalore, the case was subsequently transferred to the Central Crime Branch of the police. Furthermore, it was reported that individuals affiliated with political parties were implicated in this illegal activity.
Formerly the opposition party, the Congress had vehemently demanded the establishment of a special investigation committee to probe the matter. In response to the prevailing circumstances, the Siddaramaiah government, now in power, has taken up the Bitcoin malpractice case and initiated a re-investigation. Accordingly, a special investigation team, led by Additional DGP Manish Karbikar, has been formed to delve into the matter. The team will conduct a thorough re-examination and submit a comprehensive report to the government. Karnataka Minister Parameshwar stated that strict action would be taken against all guilty parties, regardless of their affiliations.
Former Chief Minister Basavaraj Pomi has voiced his support for the SIT’s formation, underscoring the need for a fresh inquiry into the Bitcoin issue. The Special Investigation Team, headed by former ATGP Manish Karbikar, comprises three senior officials, namely IG Vamsi Krishna, Deputy Commissioner of Police Anoop Shetty, and Superintendent of Police Sarath.
As part of their investigative process, the SIT has decided to request all relevant documents from the Central Crime Branch police, who previously handled the Bitcoin case, for further examination. Since a chargesheet has already been filed in court, the Special Investigation Team intends to seek formal permission from the judiciary to proceed with the investigation.
The re-investigation has placed the primary suspect, Srikrishna, under immense pressure, leaving many wondering if anyone else will be implicated during this fresh probe. As the case unfolds, it promises to captivate the attention of Karnataka residents eager to witness the truth being uncovered.