Ah, the thrilling world of crypto, where fortunes are made and lost faster than you can say “blockchain”. And sometimes, apparently, kidnapped. In a remarkable case of “no good deed goes unpunished”, 14 individuals-yes, including 11 police officers-have been sentenced to life imprisonment in a delightfully complicated drama involving Bitcoin extortion in India.
The plot? Well, it involves an Indian businessman, Shailesh Bhatt, who was a victim of an entirely “traditional” crime: he got kidnapped for Bitcoin. But not just any Bitcoin. We’re talking about the kind of crypto that makes techies break into a cold sweat, the kind that came from a now-defunct $900 million BitConnect investment. It’s like a treasure map, only instead of X marking the spot, it’s a long string of numbers.
Surat businessman kidnapped over Bitcoin
Enter the villains of our story: former Amreli district superintendent Jagdish Patel and ex-BJP MLA Nalin Kotadiya. Together, they plotted the ultimate heist. Bhatt, having recovered some of his investment in the form of 752 Bitcoin, was seen as an easy target. So, on February 11, 2018, he was grabbed by a merry band of criminals, led by the very same Amreli crime branch inspector who was supposed to be fighting crime-Anant Patel. Ah, the irony.
Once captured, Bhatt was subjected to what can only be described as an extreme form of ‘persuasion’-getting beaten up while being asked for passwords to his crypto stash. Apparently, the officers were really into details, making sure they knew exactly where Bhatt stored his 752 Bitcoin. Once they had the info, they forced him to cough up 34 Bitcoin. Simple as that. No big deal… unless you’re the one getting extorted.
Crypto kidnap probe triggers 15 arrests
The tale takes a twist when Bhatt finally grows a backbone and reports the whole mess to the authorities. What followed was a criminal investigation that saw 15 arrests (yes, 15, because apparently everyone was involved). The prosecution’s case was a veritable parade of 173 witnesses. Not the kind of case you’d want to be in, unless you’re into heavy-duty legal dramas.
As for the gold jewelry-oh, there’s always gold-recovered from the former Amreli SP Patel, that’s being sent off to Mumbai for “safe keeping”. It might just end up as the ultimate “crypto collateral”. But then again, in the world of crime, what’s a little gold between friends?
And in case you missed it, there was a recent bust where Thai authorities nabbed a South Korean who was laundering cryptocurrencies into gold worth a small fortune. It’s all part of the grand tradition of ‘it’s all connected’.
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2025-08-30 13:22