PSI, PC booked for colluding with kidnappers

Bengaluru, NT Bureau: A probationary Police Sub-Inspector (PSI) and a constable of the Madiwala police station are among three booked for colluding with kidnappers for allegedly extorting money from a businessman in the city.

A resident of HSR Layout, Pavan (name changed) in Bengaluru was allegedly abducted by six men in a car.

The accused took him to an unknown location and tortured him into transferring more than Rs 1.7 crore including 1.7 lakh USDT cryptocurrency and Rs 20 lakh in cash, to various bank accounts belonging to them.

However, after being set free, the victim filed a complaint with the Kadugondanahalli (KG Halli) Police Station regarding the incident. A USDT (Tether) is a "stablecoin" cryptocurrency designed to provide a stable price point at all times.

It functions as the internet's Digital Dollar. The case was later handed over to the Economic Offences Wing of the Central Crime Branch (CCB) who nabbed an accused on November 10 and recovered 800 USDT along with details of money transfers from him.

The CCB were shocked when they discovered the involvement of a probationary PSI, Siddaroodha and a police constable Alla Baksh, in the scam.

Further probe unfolded that the prime accused, identified as Raj Kishore, a former Home Guard, had befriended Siddaroodha and in the month of July sought help from him alleging that the victim is refusing to pay his dues.

On his request, Siddaroodha along with Baksh, had allegedly forced the victim to pay the money to the accused.