BENGALURU – The Karnataka Special Investigation Team (SIT) is intensifying its investigation into the alleged use of cryptocurrency for bribery by hacker Srikrishna Ramesh, also known as Sriki, while he was in police custody. The investigation has uncovered links implicating members of the Bharatiya Janata Party (BJP) and law enforcement officers in corrupt activities.
The SIT, after further examination of the chargesheet filed in 2021, is now seeking cancellation of Sriki’s bail. The decision came after he admitted to bribing officials with cryptocurrency while in the custody of Bengaluru crime branch police. The investigation is also reviewing interviews and details from a 2018 case involving a dispute involving cryptocurrency and political lineage.
In an earlier development on April 14, 2021, when Sriki was about to be released from Bengaluru central jail, blockchain analysts along with Whale Alert flagged suspicious transactions. These transactions are linked to the infamous Bitfinex exchange heist. Home Minister G Parameshwara mentioned these findings while addressing previous investigations related to the BJP-led cover-up. However, Bengaluru local police have denied any local connection with these transactions.
The SIT’s current focus includes not only chargesheet analysis but also allegations emerging from the scrutiny initiated by the National Assembly, pointing towards systemic corruption involving high-profile individuals and cryptocurrency trading. The results of this investigation could have important implications for all stakeholders.
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