The Enforcement Directorate (ED) has taken a significant step in the ongoing investigation into a Bitcoin Ponzi scam by attaching properties worth nearly ₹100 crore belonging to businessman Raj Kundra. The seizure includes both movable and immovable assets, with notable items being Kundra’s wife, actor Shilpa Shetty’s flat in Mumbai and a bungalow in Pune.
Allegations on Raj Kundra
The case revolves around a fraudulent scheme orchestrated by the accused, including the late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and others. These individuals allegedly collected a staggering ₹6,600 crore worth of bitcoins from unsuspecting investors. Promising a 10% monthly return in the form of bitcoins, they lured people into investing their hard-earned money. However, the promised returns never materialized, and the ill-gotten bitcoins were concealed in obscure online wallets.
Raj Kundra’s Involvement
Raj Kundra, known for his business ventures and as the husband of Bollywood actress Shilpa Shetty, received 285 bitcoins from Amit Bhardwaj. These bitcoins were sourced from the proceeds of the GainBitcoin Ponzi scam. Kundra intended to set up a bitcoin mining farm in Ukraine but faced setbacks, leaving him in possession of 285 bitcoins valued at over ₹150 crore.
Seized Properties
The ED’s action includes the following properties:
- Shilpa Shetty’s Flat in Juhu, Mumbai: This luxurious flat, registered in Shilpa Shetty’s name, is among the seized assets.
- Raj Kundra’s Bungalow in Pune: The businessman’s Pune residence has also been attached.
- Equity Shares: The ED has identified equity shares held by Raj Kundra as part of the seized properties.
Legal Proceedings
Earlier, multiple search operations were conducted in connection with this case, leading to the arrest of three individuals: Simpy Bhardwaj, Nithin Gaur, and Nikhil Mahajan. All three are currently in judicial custody1.
As the investigation unfolds, the ED aims to unravel the intricate web of financial deception and hold those responsible accountable for their actions. The seizure of Raj Kundra’s properties serves as a significant development in the fight against financial fraud and Ponzi schemes in India.
Stay tuned for further updates as authorities continue their pursuit of justice in this high-profile case.
