Wed Nov 20 09:58:42 UTC 2024: ## ED Raids in Chhattisgarh Link Bitcoin Case to Maharashtra Elections
**Raipur, Chhattisgarh – November 20, 2024** – The Enforcement Directorate (ED) conducted searches today at the Chhattisgarh residences of Gaurav Mehta as part of a money laundering investigation linked to alleged illegal Bitcoin transactions in poll-bound Maharashtra. The raids, carried out under the Prevention of Money Laundering Act (PMLA), stem from police FIRs filed in Maharashtra and Delhi.
Mr. Mehta is allegedly connected to a scheme promising high returns on Bitcoin investments, reportedly collecting ₹6,600 crore (approximately $800 million USD at 2017 exchange rates) from investors. The BJP has accused Nationalist Congress Party (NCP) leader Supriya Sule and Congress leader Nana Patole of using these illicit Bitcoin funds to finance their election campaigns, releasing an audio recording purportedly belonging to Ms. Sule. Ms. Sule has denied these allegations.
The ED investigation is focusing on Mr. Mehta’s role in the alleged scheme, which involved collecting substantial funds in Bitcoin with the promise of a 10% monthly return. These raids come on the day of the Maharashtra Assembly elections.
First Piper 