Indian court rejects release plea of accused in one of country's largest Bitcoin Ponzi schemes worth Rs 66.06 billion

the PMLA special court in India has rejected Hemant Bhope and his wife Lata's request for release. It is reported that the two are charged in connection with one of India's largest Bitcoin Ponzi schemes, which involves a Delhi-based company called Variabletech Pvt Ltd (VTPL). The defendants conspired to lure investors into buying Bitcoin and encouraged others to invest in the company to commit fraud. It is reported that the amount involved in the scheme is as high as 66.06 billion rupees.