<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">A Sessions Court in Ahmedabad on Friday handed down life sentences to 14 individuals, among them former BJP MLA Nalin Kotadiya and ex-Amreli Superintendent of Police Jagdish Patel, in a 2018 case involving the kidnapping of a builder and the extortion of bitcoins.&nbsp;</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">The verdict was pronounced by Judge BB Jadav. </span><span style="font-family: georgia, palatino, serif; font-size: 12pt;">The case centres on Surat-based builder Shailesh Bhatt and his associate Kirit Paladia, who were reportedly abducted from Gandhinagar in February 2018. The accused allegedly extorted 200 bitcoins from the victims, valued at Rs 32 crore at the time. Kotadiya, who served as the MLA for Dhari in Amreli between 2012 and 2017, was identified as one of the senior figures in the conspiracy alongside Patel.</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Paresh Vaghela, representing the nine Amreli police constables implicated, said, &ldquo;Of the total 15 accused charged in the case, the court convicted 14 persons, including Kotadiya, while one, Bipin Patel, has been let off. The accused were found guilty of being part of a conspiracy to extort 200 bitcoins. The accused included nine constables of the Amreli police force.&rdquo;&nbsp;</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">He added that the nine policemen plan to appeal the verdict in the High Court within a week.</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Investigations revealed that Bhatt had invested substantial sums in a virtual currency company during India&rsquo;s demonetisation period. When the firm abruptly collapsed, he reportedly abducted its administrators and extorted bitcoins and kitecoins from them.</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Court documents also indicate that Kotadiya and his co-accused were aware that Bhatt and his associates had earlier acquired bitcoins worth Rs 150 crore from Surat businessman Dhawal Mawani, prompting them to plan the seizure.</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">CID-Crime registered FIRs against Kotadiya, Patel, and other accused under multiple sections of the IPC, covering kidnapping, extortion, and criminal conspiracy, following Bhatt&rsquo;s complaint to the home department.&nbsp;</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Kotadiya, initially declared an absconder, was arrested in September 2018 in Jalgaon, Maharashtra, and later released on bail. Other accused, including Patel and subordinate officers, were similarly granted bail after their arrests.</span></div>
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<div><span style="font-family: georgia, palatino, serif; font-size: 12pt;">Further details revealed that CBI Inspector Sunil Nair accepted Rs 5 crore in cash as part of the plot. Following a detailed trial, the court analysed evidence and witness statements, resulting in convictions for 14 of the 15 defendants.</span></div>

Ahmedabad court convicts Nalin Kotadiya and 13 others in bitcoin extortion case

Gujarat: Ex-BJP MLA Gets Life Term in Bitcoin Case

Ahmedabad court convicts Nalin Kotadiya and 13 others in bitcoin extortion case

August 30, 2025 | 15:21 IST