Victim kidnapped investors, extorted 2,300 cryptocurrencies: nalin kotadiya

Former MLA had said that the victim had extorted cryptocurrencies from 2 investors in Feb One of the accused in the multi-crore bitcoin extortion case has alleged that the victim was

involved in a kidnapping case involving two investors from whom he extorted 2,300 cryptocurrencies on February 1, 2018. Former BJP legislator Nalin Kotadiya made the allegations against

Sailesh Bhatt, who was kidnapped by Kirit Paladiya in connivance with the Amreli police. They extorted 176 bitcoins from him. "There has been a team investigation in the 2,300

cryptocurrencies allegation and the source through which Shailesh Bhatt got the bitcoins is also being investigated," a source told the newspaper. According to the former MLA, Bhatt and

two of his associates kidnapped Piyush Savaliya and Dhaval Malvani, members of an investment firm, and extorted cryptocurrencies from their wallet earlier this year. An official source told

DNA that Bhatt and his associates pretended to Income Tax officers to extort the cryptocurrencies from the investors. Kotadiya made the allegations in a press note released on May 7. He is

wanted in the case for his involvement. He has been issued summons by the CID who is still looking for him. He is believed to have received Rs 70 lakh of the extortion money. While Malvani

is believed to have left the country after the incident, Savaliya denied the allegations after they were made. He filed an affidavit in a Surat court on May 8 saying that he has nothing to

do with the case. In the affidavit, the investor said he did not know Bhatt, nor was he ever kidnapped by anyone. He also denied that any cryptocurrency was ever extorted from him. An

official source told the newspaper that Savaliya was questioned by CID officials in connection with the case. However, the CID has yet to confirm the information. Bhatt has switched off his

phone after Kotadiya made the allegations.