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Now, Corrupt Ministers Invest In Cryptocurrency, Not Gold Or Property

After raiding 69 premises linked to P Thangamani, a former AIADMK minister of Tamil Nadu, the Directorate of Vigilance & Anti-Corruption (DVAC) revealed that the minister, his son, and kin had made huge investments in cryptocurrency. This must be a first in India in the world of investments from ill gotten money. While it is common enough for I-T raids to unearth huge investments in gold and properties across the State, assets in newfangled cryptocurrency, Bitcoins, and the like which have been unearthed lends a new dimension to the sophistication of those who find themselves showered with new riches. Tamil Nadu has always been suspected to run openly corrupt governments in which ministers and their offspring have made huge money from deal-making and fixing contracts for government contractors and suppliers. It is no secret that TN regimes led to many Dravidian politicians making quick money, as is evidenced in huge properties and assets being taken over by ED or I-T after raids on politicians once they lose power. Protests hinting at revenge politics in DVAC raids by succeeding governments mean little because disproportionate assets are in black & white and show a trail of corruption. It is suspected to be even more so in electricity purchases to make up for the deficiency in production because the kickbacks every summer are said to be huge.