Indian Police Officer Apprehended For Embezzling Over $200,000 In Bitcoin, Connected to Cryptocurrency Fraudulent Scheme Investigation
A police officer in India has been apprehended on the 31st of May 2024, for supposedly embezzling about INR 1.8 crore worth of Bitcoin; which is about $216,000, amid an inspection on a cryptocurrency fraudulent scheme.
The police officer, whose name is Chandradhar, was arrested by the Special Investigation Team (SIT) of the Central Crime Branch (CCB). Chandradlar's arrest would make it the fourth arrest in the Bitcoin 2020 fraudulent scheme case; which is still under investigation.
The Indian Penal Code (IPC) has charged police officer Chandradlar under different sections, with cooperation in crime, mischief, criminal breach of trust, destruction of evidence, omission, and common intention.
Lakshmikanthaiah and Prashanth Babu are two police officers, who have been arrested in connection to this investigation. Chandradhar and the other two police officers gained unlawful access to confidential data using their status.