ED records statement of audit company employee in Bitcoin scam; CBI asks him to appear
Mumbai (PTI): The ED and the CBI on Wednesday ramped up their investigations against Bitcoin Ponzi 'scam' suspect Gaurav Mehta, a day after the BJP made public voice notes to allege that Congress and NCP (SP) leaders were trying to encash cryptocurrency to influence Maharashtra assembly polls.
The allegations were refuted by NCP (SP) leader Supriya Sule and Congress leader Nana Patole who termed the voice notes released by the BJP on the eve of polling as fake.
Gaurav Mehta, an audit company employee, was at the centre of the action taken by the two federal probe agencies on Wednesday with the Enforcement Directorate (ED) carrying out searches at his Raipur residence while the Central Bureau of Investigation (CBI) issued summons to him seeking his presence before the investigating officer as soon as possible.
The CBI has registered three cases related to Gain Bitcoin Ponzi scheme case last month on the orders of the Supreme Court issued in December, 2023.
The ED questioned Mehta and recorded his statement during the searches. It also seized some computers and digital devices.
ED officials said the agency has widened its ongoing money laundering probe into a crypto (Bitcoin) assets ponzi scam and is investigating the "links" of Mehta and some others with politicians, politically exposed persons and bureaucrats.
The agency attached assets worth Rs 98 crore of actor Shilpa Shetty and her husband Raj Kundra in April as part of this crypto-ponzi probe. The couple challenged the ED action and got relief from the Bombay High Court.
It was alleged by the ED that the bitcoins were to be utilised for mining and investors were supposed to get huge returns in crypto assets but the promoters "cheated" the investors and have been concealing the "ill-gotten" bitcoins in obscure online wallets.
Kundra, the ED alleged, received 285 bitcoins from the "mastermind" and promoter of Gain Bitcoin Ponzi "scam" Amit Bhardwaj for "setting up" a bitcoin mining farm in Ukraine.
These bitcoins were sourced from the "proceeds of crime" collected by Amit Bhardwaj from gullible investors, it said.
The agency arrested three people -- Simpy Bhardwaj, Nitin Gaur and Nikhil Mahajan -- in the case last year.
Main accused Ajay Bhardwaj and Mahendra Bhardwaj are absconding, the ED said, adding that it attached properties worth Rs 69 crore in the case earlier.
Two chargesheets have been filed in the case till now -- the first in June 2019 and the second in February this year.
The BJP on Tuesday played purported voice notes of Baramati MP Supriya Sule and Maharashtra Congress chief Patole alleging attempts were being made to encash bitcoins to influence the elections.
Sharing the audio clips, in which voices and signal chats purportedly of Sule and Patole allegedly indicate that bitcoins were used for funding the poll campaign, BJP spokesperson Sudhanshu Trivedi had said it is clear that the MVA has seen the writing on the wall that it will be defeated in the polls.
The allegations were strongly refuted by both leaders who said that the voice recordings were not theirs.
Sule said she has filed a complaint with the Election Commission and the cybercrime department of the state against the false allegations. She told reporters on Wednesday that she "did not know Gaurav Mehta".
Patole also dismissed the BJP's allegations and said, "The voice in the clip being circulated is not mine. Even (Prime Minister) Narendra Modi recognises my voice." Voting in Maharashtra elections took place on Wednesday for 288 Assembly seats where BJP-led Mahayuti alliance is facing a challenge from NCP (SP), Shiv Sena (UT) and Congress alliance known as Maha Vikas Agadi.
A former IPS officer Ravindranath Patil, who was arrested in a 2018 cryptocurrency "fraud" case being probed by Pune Police, has also claimed that Mehta had provided him 10 voice notes on the Signal app which had purported audio clips of Sule, Patole, and IPS officers Amitabh Gupta (ex-Pune Police commissioner) and Bhagyashree Navtake, who was the DCP (cyber) in Pune when he was arrested.
He had also sent a complaint to the Election Commission alleging three voice notes were sent by Sule to Mehta in which she is purportedly heard asking the latter to encash the Bitcoins as funds were needed for elections and assuring him that he need not worry about inquiries as once they come to power, they would handle them.
In his complaint sent to the EC via email, Patil stated that according to the chats that he claims to be in possession of, it appears that hundreds of bitcoins worth billions of rupees may have been pumped in the assembly polls and the previous Lok Sabha elections.
It also appears that Mehta is currently having custody of the misappropriated bitcoins, amounting to hundreds of crores of rupees, Patil said in the complaint.
The ED's money laundering probe in the crypto-ponzi case stems from FIRs of Maharashtra Police and Delhi Police against a company named Variable Tech Pvt Ltd and individuals named (late) Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj and Mahender Bhardwaj, among others.
A number of multi-level marketing agents are alleged to have collected huge amounts of funds in the form of bitcoins (worth Rs 6,600 crore in 2017) from the public with the "false promise" of 10 per cent per month return in the form of Bitcoins.
The Supreme Court handed over cases registered against Variable Tech Pte Ltd across the country to the CBI in December last year.
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KMES Institutions shine in SSLC result, continue four-decade legacy of education in rural Karkala
Karkala: KMES Institutions of Education at Kukkundooru in Karkala taluk has recorded outstanding results in the 2025-26 SSLC and PUC examinations, continuing a four-decade educational journey that began with just 22 kindergarten students and no building of its own.
The institution secured a 100 per cent result in the SSLC examinations, with all 43 students passing the examination this year.
Muhammad Arman Shahid emerged as the school topper by scoring 619 marks out of 625, securing 99 per cent and also ranking sixth at the state level. He scored full marks in Kannada, Hindi, Mathematics and Social Science.
Krithika V. Nayak secured the second position in the school with 607 marks and 97.12 per cent, while Arhan stood third with 605 marks and 96.8 per cent.
Out of the 43 students, 21 passed with distinction, 19 secured first class, two students obtained second class and one student passed in third class. Fourteen students scored above 90 per cent.
The institution also performed strongly in the PUC examinations. The Science stream recorded a 100 per cent result, with all 44 students passing, while Commerce secured a 98 per cent pass percentage.
Twelve students scored full marks in different subjects, including Mathematics.
In Commerce, Deeksha Acharya topped the college with 588 marks, while Harshitha H. Kini secured the second position with 581 marks.
In Science, Naveen B. Nayak emerged as topper with 586 marks, followed closely by Sameeksha Moily and Aifa Nidha, who both secured 585 marks.
Speaking about the achievement, High School head teacher Shrimati Patkar said the institution has always focused on supporting academically weak students through affordable education and free special classes.
“Our ambition is to provide quality education even to students who struggle in studies. The fees are very low, and free coaching classes are conducted. I have worked here for 28 years and have always found the atmosphere supportive of education,” she said.
Primary School head teacher Lolita Zeena D’Silva appreciated the dedication of the teaching staff and said the school encourages students not only to achieve high marks but also to become role models.
PU College Principal Balakrishna Rao said the institution focuses on value-based education and overall personality development.
“The aim is to help students succeed not only academically but also in cultural activities, sports and leadership. We encourage qualities such as patience, tolerance and discipline,” he said.
Rao also credited the institution’s growth to the support of founders K.S. Mohammed Masood and K.S. Nissar Ahmed, along with President K.S. Imtiaz Ahmed.
Speaking on the occasion, Imtiaz Ahmed said the institution was built on the dream of making quality education accessible to financially backward families in rural areas.
He said the guidance and encouragement of his elder brothers, Mohammed Masood and Nissar Ahmed, along with the contribution of teachers, students and parents, helped transform the institution into a model educational centre.
The KMES Institutions trace their roots back to 1984, when they were founded by senior social activists Haji P.M. Khan, K.S. Nazeer Ahmed and Haji A.S. Rashid Haider.
The institution initially functioned from the Government Urdu School premises as it did not have a building of its own. Classes began with only 22 students in lower kindergarten and two teachers.
Later, under the leadership of K.S. Mohammed Masood and with continuous financial and moral support from non-resident businessman K.S. Nissar Ahmed, the institution gradually expanded.
In 1993, the school shifted to its own building and began conducting classes from LKG to Class 5.
As student admissions increased, Nissar Ahmed personally funded the construction of three additional classrooms to address infrastructure shortages.
The institution’s new school building was completed in 1997, while the PU College building was constructed in 2001.
From humble beginnings in a borrowed building to producing state-level rank holders and consistent academic results, the KMES Institutions have grown into one of the prominent educational centres in the Karkala region.
