Bitcoin case: ED raids residence of NA Harris' sons, including Nalapad

Bengaluru: In a major development, the Enforcement Directorate (ED) on Monday launched raids against Srikrishna alias Sriki, the prime accused in the Bitcoin case, and also on the two sons of Karnataka Congress MLA NA Harris.

The simultaneous raids are underway across 12 locations in Karnataka.

"The search also covers residence of Mohammed Haris Nalapad and Omar Farook Nalapad. They are sons of NA Harris who is sitting Member Karnataka Legislative Assembly from Shantinagar Constituency in Bengaluru. Investigation under PMLA, 2002,  revealed that Mohammed Harris Nalapad and Omar Farook Nalapad are close associates of Srikrishna Ramesh alias Sriki and are main beneficiaries of proceeds of crime," sources from the ED's Delhi unit said.

Security personnel outside NA Haris residence in Shanti Nagar, Bengaluru.

The investigation in this case has been initiated based on multiple FIRs and chargesheets filed by Karnataka Police alleging offences such as hacking of national and international websites, stealing of bitcoins, extortion and violation of NDPS Act.

Investigation under PMLA, 2002, has revealed the following modus operandi by the accused persons: hacking of websites/wallets to steal VDAs (proceeds of crime); hacking of websites to steal data/money (proceeds of crime); sale of stolen VDAs through Crypto Trading Platforms (routing); the sale proceeds are transferred through bank accounts (layering); and the use of the sale proceeds for personal benefits by Srikrishna and his associates, the sources said.