Trouble Mounts for Shilpa Shetty’s Husband and Businessman Raj Kundra, the Enforcement Directorate (ED) has seized both immovable and movable assets of Rs 97.79 crore belonging to Raj Kundra citing the Prevention of Money Laundering Act (PMLA), 2002.
Among the properties seized includes an apartment in the posh neighbourhood of Juhu, Mumbai, registered under the name of actor Shilpa Shetty, Kundra's wife. Additional assets include Mr Kundra's equity shares and an opulent Pune bungalow.
ED, Mumbai has provisionally attached immovable and movable properties worth Rs. 97.79 Crore belonging to Ripu Sudan Kundra aka Raj Kundra under the provisions of PMLA, 2002. The attached properties include Residential flat situated in Juhu presently in the name of Smt. Shilpa…— ED (@dir_ed) April 18, 2024
All About the related Bitcoin Fraud Case
ED launched an investigation following multiple FIRs filed by the Delhi Police and the Maharashtra Police against Variable Tech Pte Ltd and various MLM agents, including the late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and others.
Allegations against Individuals behind the 2017 "Gain Bitcoin" investment scheme, include misleading investors and concealing the bitcoins they obtained illegally in virtual wallets. Huge amounts of funds were collected by luring investors into believing they would receive a 10% monthly high return in bitcoins, the accused allegedly raised a sizable sum of money, around Rs 6,600 crore in bitcoins in 2017.
“It has been alleged that they had collected huge amounts of funds in the form of Bitcoins (worth ₹6,600 Crore in 2017 itself) from the gullible public with the false promises of 10% per month return in the form of Bitcoins," the ED said.
The ED investigation further revealed that “Raj Kundra received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin ponzi scam Amit Bhardwaj for setting up a Bitcoin mining farm in Ukraine".
In an official statement, ED said “Since the deal didn’t materialise, Kundra is still in possession and enjoyment of 285 Bitcoins which are presently valued at more than Rs. 150 Crore.”
Prior to this, the case involved several search operations that resulted in the arrest of three people: Nikhil Mahajan on January 16, 2023, Simpy Bhardwaj on December 17, 2023, and Nitin Gaur on December 29, 2023. They are being held by judges at the moment.
The primary accused, Ajay and Mahendra Bhardwaj, are still absconding, according to the ED. In relation to the case, the ED had previously attached properties worth Rs 69 crore.
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