Bhopal (Madhya Pradesh): Ex-RTO constable Saurabh Sharma and his wife, currently on the run, are suspected to be in Dubai or Mumbai, surviving on crypto currency, officials reported on Thursday.
The Lokayukta’s Special Police Establishment (SPE) raided two premises of Sharma on December 19, but while the raid was underway, Sharma and his wife disappeared and so far police have failed to trace them.
SEP has seized cash and gold worth Rs 7.98 crore, however, so far no action has been taken against the bank deposits and bank lockers of the family are still to be opened.
People aware of the developments said that not only the ex-constable amassed huge properties and collected gold with the help of black money, the couple also invested crores in crypto currencies. And now these digital currencies are coming in handy for them to meet the expenses while hiding.
Here in Bhopal, Sharma’s mother and child are residing in a house in Arera colony and have no issues as far as finances are concerned. Director general, Lokayukta Jaideep Prasad search is on to locate the couple, specially Saurabh, who is wanted in the raid case.
What Is Crypto currency.... How does crypto turn into real money?
A crypto currency is a digital or virtual currency secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Most crypto currencies exist on decentralized networks using blockchain technology—a distributed ledger enforced by a disparate network of computers. Crypto users can also convert crypto into cash by using a crypto ATM. Crypto ATMs offer users a convenient way to move their funds from the digital sphere into the real world.
