After raids linked to Congress leader Mohammed Haris Nalapad, ED arrests Sriki in Bitcoin scam case
(File Photo)The Enforcement Directorate (ED) Saturday arrested hacker Srikrishna Ramesh alias Sriki, along with two others, in connection with the ongoing cryptocurrency-linked money laundering investigation in Bengaluru. The three accused were produced before a special ED court, which remanded them in ED custody for 10 days.The agency has been probing the alleged Bitcoin scam for several years over allegations involving illegal cryptocurrency transactions, hacking, darknet-linked activities, and suspected financial irregularities. The case triggered a major political row in Karnataka after allegations surfaced regarding the handling of seized Bitcoins and the alleged involvement of influential persons. Before the current arrest by the ED, Sriki was last taken into custody on May 7, 2024, by the Special Investigation Team (SIT) in connection with a 2017 case involving the alleged theft of 60.6 bitcoins from cryptocurrency exchange Unocoin. However, on July 23, 2024, a court in Tumakuru granted him conditional bail after the SIT failed to file a chargesheet within the mandatory 60-day period prescribed under law. The latest arrest came days after the ED intensified its probe through a series of coordinated raids across Bengaluru and other locations. On April 20, the agency conducted raids at 12 premises, including locations allegedly connected to Congress leader Mohammed Haris Nalapad and Aqeeb Rahman Khan. Mohammed Haris Nalapad’s father is currently the MLA of Shantinagar constituency in central Bengaluru. According to the ED, investigation under the Prevention of Money Laundering Act (PMLA), 2002, revealed that Mohammed Haris Nalapad and his brother Omar Farook Nalapad were close associates of Sriki and among the main beneficiaries of the alleged proceeds of crime. The agency also claimed that Aqeeb Rahman Khan was another direct beneficiary of the crime proceeds.Story continues below this ad Aqeeb Rahman Khan is the grandson of former Union Minister K Rahman Khan and nephew of Congress leader Mansoor Ali Khan. Investigators are examining suspected financial trails, cryptocurrency transactions, and possible links between the accused and politically connected individuals. The ED is also looking into allegations that portions of the seized cryptocurrency may have been diverted or mishandled during the initial stages of the investigation. Sriki, a hacker with a history of cybercrime cases, was first arrested by the Karnataka Police in 2020 in connection with a drug case. During that arrest, investigators allegedly uncovered details of cryptocurrency transactions and hacking activities involving online gaming platforms and darknet marketplaces. The case later expanded into a wider probe involving multiple central agencies, including the ED and the Central Bureau of Investigation.
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