Indian Court Rejects Bail Plea in Major Bitcoin Ponzi Scheme

According to PANews, a special court under India's Prevention of Money Laundering Act (PMLA) has denied the bail requests of Hemant Bhope and his wife, Lata. The couple is accused of involvement in one of India's largest Bitcoin Ponzi schemes. The case is linked to a Delhi-based company, Variabletech Pvt Ltd (VTPL), which allegedly conspired to lure investors into purchasing Bitcoin and encouraged others to invest in the company, resulting in a fraud amounting to 66.06 billion rupees.