New Delhi:The Supreme Court Wednesday ordered the transfer of all FIRs connected with the Bitcoin cryptocurrency scam to the CBI for further investigation and filing of chargesheets.
A three-judge bench led by Chief Justice of India D Y Chandrachud and comprising justices J B Pardiwala and Manoj Misra said: “We are of the view that all FIRs in question should be consolidated and transferred for further investigation to CBI”.
The bench said that the amount deposited before this court pursuant to the interim order shall stand transferred to CBI court, Rouse Avenue, New Delhi. The apex court modified its earlier order of August 30, 2019, granting anticipatory bail to the accused in over 45 FIRs and said it was no longer in force.
During the hearing, a counsel said this client had sought to consolidate all these cases, however, the magistrates would want to see the Bitcoin and they don't realise it is virtual. The counsel contended that no agency outside of Delhi has the expertise to investigate and urged the court to have an expert body like the CBI investigate it.
A counsel contended that the legality of Bitcoin was not known at that time and some people were keen to make profits. He added that hundreds of cases were filed and people had to travel from one place to another, and if they missed a date, they were put in jail.
The apex court asked the counsel, representing various parties, should the court consolidate all these FIRs in one place. The counsel agreed with the court’s view. The apex court said the accused, if not granted regular bail by another court, will have to seek it from the Delhi High Court. The bench said the petitioner had deposited an amount of Rs 1 crore in the registry of this court and this amount should be transferred to the trial court.
The apex court passed the order while dealing with cases related to the quashing of multiple FIRs registered against Amit Bhardwaj and others for allegedly cheating investors across India by inducing them to trade in Bitcoin after promising them high returns. Amit Bhardwaj, his two brothers and their father are accused in the case. Amit has, however, died
The Enforcement Directorate had said around 47 FIRs were registered against the accused for allegedly duping people across the country and the cases involved trading of 87,000 Bitcoins worth Rs 20,000 crore.
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