11 Cops and Ex-Politician Jailed for Life in Bitcoin Kidnapping
An Indian court has handed down life sentences to 14 men - including 11 police officers and a former legislator - for orchestrating a shocking crypto-related kidnapping scheme in 2018.
The case centered on businessman Shailesh Bhatt, who was abducted at a gas station in Gujarat by men posing as federal agents. He was taken to a farmhouse, held at gunpoint, and forced to hand over part of his Bitcoin holdings.
The kidnappers initially demanded 176 BTC and ₹32 crore in cash (roughly $3.6 million), but after negotiations, Bhatt surrendered proceeds from 34 BTC, worth around $150,000 at the time.
The elaborate plot unraveled after the ransom delivery failed and investigators uncovered direct involvement of senior law enforcement. The convicted officers, led by a former district police superintendent, were found guilty not only of kidnapping and extortion, but also of abusing their official authority. Former Gujarat legislator Nalin Kotadiya, who evaded arrest for months before his 2018 capture, was also among those sentenced.
The trial became one of India’s most closely watched crypto-linked criminal cases, with 172 witnesses called to testify — though nearly half later turned hostile. The judge issued perjury notices against 25 of them, citing concerns of intimidation and interference.
Ironically, Bhatt himself has since faced charges of kidnapping and extortion in a separate case involving BitConnect promoters, with Indian authorities alleging he attempted to claw back losses from the infamous Ponzi scheme by seizing their crypto assets. His own trial remains ongoing.
The sentencing in Ahmedabad underscores how cryptocurrency’s rise in India has not only attracted investors and innovators but also corruption, fraud, and violent crime at the highest levels of power.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
