In a stunning verdict, an Indian anti-corruption court in Ahmedabad has delivered a resounding verdict: life imprisonment for 14 individuals—11 police officers, an ex-MLA, and two others—found guilty of orchestrating the kidnapping and extortion of cryptocurrency from a Surat businessman. The case, involving over 750 Bitcoin, has become a landmark moment in India’s battle against corruption and crypto-related crime.
1. The Crime That Shook Crypto Trust
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The Target: Businessman Shailesh Bhatt, who had recovered 752 BTC after investing in a now-defunct ₹8,000-crore Surat firm.
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The Plot: Former BJP MLA Nalin Kotadiya and then-Amreli SP Jagdish Patel allegedly schemed a sinister betrayal. Bhatt was abducted and beaten on February 11, 2018, and held captive at a Keshav Farm in Gandhinagar—at the hands of those sworn to protect.
2. Ransom, Resistance, and Ruling
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The Demands: Bhatt was coerced into revealing his stash—176 BTC with partner Kirit Paladiya—and surrendering ₹32 crore. When that failed, the kidnappers forced the sale of 34 BTC, netting ₹1.32 crore.
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Legal Fallout: A CID FIR followed Bhatt’s complaint. During the trial, prosecutor Amit Patel examined 173 witnesses. Shockingly, 92 turned hostile—prompting perjury notices to 25 of them in a bid to preserve judicial integrity.
3. Verdict and Sanctions
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Guilty Verdict: The court held all 14—except one named Jatin Patel—as guilty under charges of criminal conspiracy, kidnapping for ransom, assault, and public misconduct under the Prevention of Corruption Act. Life sentences were handed down under Section 364A of the IPC, alongside additional penalties and fines.
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Asset Forfeiture: Gold ornaments seized from the former SP will be confiscated and sent to Mumbai’s Master of Mint.
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Court’s Stand: The judgment underscored the imperative of curbing corruption and restoring public faith in law enforcement—a power stronger than any deterrent.
4. What This Means for India’s Crypto and Legal Landscape
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Law & Crypto Collide: This case highlights how cryptocurrency—often seen as a modern financial frontier—can be manipulated by those in authority when unchecked.
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Public Trust: When law enforcement abuses its power, faith in the system erodes. The court’s harsh verdict aims not just to punish, but also to signal zero tolerance for corruption.
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Crypto-Crime Awareness: This saga provides a stark reminder that having cryptocurrency doesn’t shield one from traditional crimes like kidnapping—regardless of tech innovation.
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Witness Integrity: The mass hostility among witnesses underscores challenges within India’s legal system; perjury crackdowns are a step toward accountability.
Key Takeaways for Readers
| Insight | Explanation |
|---|---|
| Corruption Can Infiltrate Anywhere | Even crypto deals aren’t immune to exploitation—especially when officials turn rogue. |
| Justice Can Bite Back—Hard | Life sentences for trusted public servants show that accountability can prevail. |
| Crypto ≠ Anonymity Shield | Whether it’s Bitcoin or cash, high-value assets can make you a target. |
| Legal Ecosystems Must Evolve | The system continues to wrestle with how to handle emerging digital assets amid outdated laws. |
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