The controversy surrounding a Bitcoin-based Ponzi scam allegedly linked to funding election campaigns for the Maharashtra Assembly elections has taken a new turn. On Wednesday, the Central Bureau of Investigation (CBI) summoned cyber expert Gaurav Mehta, based in Raipur, Chhattisgarh, as part of its probe into the alleged fraud, estimated at over ₹6,600 crore.

Earlier in the day, teams from the Enforcement Directorate (ED) searched Mehta's residence after his name surfaced in connection with the case. Former IPS officer Ravindra Patil had alleged that funds from the 2018 cryptocurrency scam were misappropriated by Nationalist Congress Party (NCP) MP Supriya Sule and Maharashtra Congress chief Nana Patole to finance election campaigns.

Patil’s claims are reportedly based on audio clips shared by Mehta, which Patil said implicated Sule and Patole. The allegations have been seized upon by the Bharatiya Janata Party (BJP), which has launched attacks against the Congress and NCP.

“There are four such audios of Supriya Sule… Today Supriya Sule is saying this is AI-generated, whereas her own brother (Ajit Pawar) is saying it’s her voice. It’s clear what instructions Sule is giving, and even Nana Patole’s instructions to Amitabh Gupta (Pune Police Commissioner) can be heard,” BJP spokesperson Sambit Patra stated in a press conference.

Sule, after casting her vote in Baramati on Wednesday, rejected all allegations and filed an online complaint. Pune Police Commissioner Amitesh Kumar confirmed the complaint and said facts are being verified to determine if a criminal case should be registered.

The Bitcoin scam first came to light in January 2018, when Amit Bhardwaj, director of Singapore-based Variable Tech Pvt Ltd, was accused of defrauding investors. Through his company GainBitcoin, Bhardwaj promised a 10% monthly return on Bitcoin investments for 18 months under a multi-level marketing scheme.

Bhardwaj expanded his operations by introducing Bitcoin mining ventures and creating one of the first online retail marketplaces accepting Bitcoin. By 2018, Maharashtra and Delhi Police were investigating him, and Pune Police arrested him at Delhi airport in April that year.

The ED subsequently, filed its first prosecution complaint in June 2019, alleging that Bhardwaj and his brother Ajay amassed 80,000 Bitcoins worth ₹6,606 crore as of November 2017. Amit Bhardwaj died of cardiac arrest in 2022, while his brother Ajay remains absconding.

In 2018, the Pune Police enlisted retired IPS officer Ravindra Patil and cyber expert Pankaj Ghode to assist with technical evidence collection. However, four years later, both were accused of misappropriating cryptocurrencies recovered during the investigation. Authorities alleged they transferred funds to their own wallets, with ₹6 crore worth of cryptocurrency reportedly traced back to Patil’s wallet.

Patil has since alleged that Mehta, whose findings were pivotal in cases against him, shared audio clips accusing Sule and Patole of fund mismanagement. The allegations also mention former Pune Police Commissioner Amitabh Gupta and Deputy Commissioner of Police Bhagyashree Navtake. The BJP has intensified its attacks, using Patil’s allegations to target opposition parties. Meanwhile, the NCP and Congress have dismissed the accusations as baseless, framing them as politically motivated.

As investigations by the CBI and ED progress, the case continues to stir political and public discourse, with implications for the ongoing political landscape in Maharashtra.