India's Ruling Party Caught Up in Bitcoin Scam

Written by:
Guest
Published on:
Jul/05/2018

India’s largest political party, the Indian National Congress (INC), accused the ruling Bharatiya Janta Party (BJP) of orchestrating what could equate to a $12.78 billion bitcoin scam on Thursday.

INC spokesperson Shaktisinh Gohil claims that the illicit money was converted to cryptocurrency via ‘hawala’ transactions whereby none of the funds were actually moving.

Gohil said the “mega bitcoin scam” has been unravelled by the Gujarat police but none of the kingpins has been arrested, according to the Hindustan Times.

BJP spokesperson Anil Baluni said on Thursday, “Even as the BJP scrambles for answers to explain how the Ahmedabad District Cooperative Bank (ADCB), whose director is BJP President Amit Shah, received old currency worth Rs 745.58 crore in just 5 days and how Rs 3118.51 crore were deposited in 11 district co-operative banks linked with BJP leaders in Gujarat itself, a new ‘Mega bitcoin Scam’ worth more than Rs 5000 crore has been unravelled in the state."

He alleged that this is a “multi-layered” scam where illegal hawala transactions, kidnappinga, extortion of cryptocurrency using government authorities at the behest of top BJP leaders in Gujarat has become a norm, according to Baluni.

CCTV footage reportedly shows proof of the police extortion.

None of this can be good for bitcoin, which has struggled to gain ground lost from its near $20,000 peak price in December.

The price of bitcoin was sitting just under $7000 early afternoon Eastern Standard Time.

- Jagajeet Chiba, Gambling911.com

 

 

Business/Financial News

How to Understand Sports Betting Odds: A Guide to Figuring Out How Betting Lines Are Set

How to Understand Sports Betting Odds: A Guide to Figuring Out How Betting Lines Are Set

Figuring out how to understand sports betting odds isn’t all that simple. It’s a delicate dance that relies on a perfect blend of mathematics, research, and dash of industry-specific intuition. That being said, our goal today is to explain this in a much broader, simpler way.

How Do Bookies Work?

How Do Bookies Work?

Bookies work pretty straightforwardly; they accept sporting event bets from their clients and then manage all of the bets through their “book”, which can be an actual book or some kind of sports bookie software program.

Create A Lucrative Sportsbook Empire With These 3 Premium PPH Tools

Create A Lucrative Sportsbook Empire With These 3 Premium PPH Tools

Dreaming of creating a sportsbook empire you can retire on one day? Daydreaming is over. Have these 3 premium PPH tools in your toolbox and unlock the potential in your sportsbook business.

White Label Sportsbook California

Build it and they will come!  AcePerHead.com provides the perfect white label sportsbook product for those in California now that the U.S. Supreme Court ruled to allow sports betting across all 50 states. 

White Label Sportsbook Oregon

White Label Sportsbook Oregon

AcePerHead.com provides the perfect white label sportsbook product for those in Oregon now that the U.S. Supreme Court ruled to allow sports betting in all 50 states.

Syndicate