Sandeep in detention as RBP continues to investigate

Sandeep Rai Chamling remains under detention as the Royal Bhutan Police (RBP) continues its investigation into the case against him.

So far, a total of 50 victims has come forward to give their statements to the RBP, with most reporting similar allegations. They claim that Sandeep promised to teach them trading and cryptocurrency skills, but failed to deliver on those promises after taking their money.

The RBP has seized his electronic devices and is gathering additional information and evidence.

Sandeep is likely to face multiple charges, including deceptive practices for taking money without providing the services he had promised, thereby deceiving his clients.

The other likely charge is online gambling as Sandeep referred his clients to online crypto gambling sites where he would get a commission each time they spent money.

A third possible charge is also fronting, as the PandoraBiz company license is not in his name but in that of a family member.

Meanwhile, the RBP has sought the assistance of the Financial Intelligence Department under the RMA to track where Sandeep sent money. A lot of the money has been sent to India using the banking channels and he has sent out money using SWIFT too.

He also holds digital currency in his crypto wallets but the full extent of where the funds went or is held is still under investigation.

The Competition and Consumer Affairs Authority (CCAA) has so far got 62 complaints seeking around Nu 300,000 in refunds.

CCAA is also waiting to see the outcome of the RBP investigation to avoid any duplication.

CCAA will come out with its own investigation report and actions, but it needs to talk to Sandeep which it will do once he is released.

The Bhutan Qualifications and Professional Certification Authority (BQPCA) will also similarly talk to Sandeep once he is released letting him know he is not authorized to conduct such courses.

Sandeep and his company aggressively and extensively contacted people using social media, direct messages and calls promising to teach them trading and how to earn crypto currency for a fee. However, once they paid and joined up, they could not learn either as the focus was more on recruiting more new members.

He made flashy videos and bold claims online of earning large amounts doing trading, but a closer look by this paper found that the supposed trading videos had many flaws.