Indian

An Indian court has suspended a former police officer’s life sentence pending appeal. Jagdish Patel was one of fifteen suspects sentenced to life imprisonment last year. Patel and several other former police officers were accused of extorting BitConnect investor Shailesh Bhatt. BitConnectwas a $2.4 billion MLM crypto Ponzi launched by Satish Kumbhani in 2018. Bhatt (right) was a BitConnect Ponzi investor who, to avoid taking a loss when BitConnectcollapsedin early 2018,took matters into his own hands. [Bhatt]  kidnapped two of Kumbhani’s employees and extorted 2,091 Bitcoins, 11,000 LiteCoins and Rs 14.50 crore in cash to release them.