Mumbai: After an eight hour long questioning session, businessman Raj Kundra appeared calm, and shared updates with the media.
Speaking to the press, Kundra admitted that there were email interactions between his company and the Bhardwajs of Gain Bitcoin. Although he didn't not name which of the brother had been corresponding with his company, he said that they were interested in purchasing a team in the Poker League that Kundra's company offered.
In a video recorded by news-agency ANI, Kundra admitted, "We have terminated contract with Bhardwaj after he refused to pay,"
The Bhardwaj brothers were arrested in the month of April after complaints surfaced pointing to their masterminding a Rs 2000 crore bitcoin scam.
Kundra, who had been called up for questioning by the Enforcement Directorate said the sleuths were keen to interrogate him about the email interactions. Although his company had started a contract, it didn't materialize since the Bhardwaj's didn't honor their payment-commitments.
In fact, Kundra said that the Bhardwajs wanted to pay in bitcoins, but he opposed that idea.
"Because we terminated the contract, the deal didn't happen... But we have a copy of that on email correspondence... I had to basically, connect, rectify and show them everything... That this is what has happened, and there has been no transaction..." said Kundra.
When a journalist asked Kundra about participating at promotional campaigns organised by Gain Bitcoin and the Bhardwaj brothers, Kundra replied in the negative.
He said the interaction with the Bhardwaj brothers was owing to the full-page ads that were flashed across newspapers. "We thought he was a reputable person... And we allowed him to buy a team, and got into a contract..." he is heard saying in the video.
Watch the video here:
What is the Gain Bitcoin Scam
A file photo of one of the Bhardwaj brothers
The scam masterminded by Amit and Vivek Bhardwaj, referred to as Bhardwaj brothers, involves duping investors in Multi-Level-Marketing and bitcoin related schemes to the tune of over Rs 2000 crore. The Bhardwaj brothers were nabbed in April after multiple failed arrests. Nearly 8000 people have been reportedly cheated by various dubious investment plans from companies headed by the Bhardwaj brothers.
Vivek and Amit hailing from Shalimar Bagh area in Delhi were the founders of companies - Gain Bitcoin, GB Miners, and GB21. These companies were fronts for bitcoin mining, trading and multi-level marketing, according to the cops.
Investors were lured into investing in Gain Bitcoin through several multi-level marketing concepts. At one time Amit, who has been alleged to be the mastermind, also launched his own cryptocurrency flavour called MCAP.
Investors were promised inflated returns. And as the heat from investors surged, the Bhardwaj brothers left the country. An Enforcement Directorate lookout notice helped find them - first in Dubai then in Thailand.
The duo would have been nabbed in Dubai had it not been for Amit reportedly faking a heart attack. The fake heart attack helped the Bhardwaj brothers time their escape to Thailand.
The brothers were nabbed finally in April. By then, the major arrests in the Bhardwaj case were that of Pankaj Adalakha, a motivational speaker and Akash Sancheti, a software firm operator. The investigation authorities had also recovered 32 bitcoins, nearly 80 Ethers, and Rs 38.96 lakh in cash.
Also Read: Raj Kundra: From bus-conductor's son to the 198th-richest British Asian