Odaily Planet Daily News: India's Enforcement Directorate (ED) said that a man in Gujarat, Shailesh Babulal Bhatt, was arrested on suspicion of kidnapping and extortion and violation of anti-money laundering laws in a major cryptocurrency-related crime of more than $144 million. Bhatt was detained after the Indian Ministry of Justice launched a money laundering investigation based on the first document filed by the Surat police against Bitconnect Coin promoter Satish Kumbhani. Kumbhani allegedly deceived investors and fled after shutting down the Bitconnect platform in January 2018. Bhatt had invested in Bitconnect, and in order to recover the funds, he kidnapped two of Kumbhani's employees and extorted 2,091 bitcoins, 11,000 litecoins and 145 million rupees in cash, which is now worth 12.325 billion rupees. Bhatt also distributed 2.89 billion rupees of extortion funds to his accomplices for the acquisition of various assets. (Bitcoin.com)