ED Seizes Raj Kundra’s Assets Worth Rs 98 Cr, Including Shilpa Shetty’s Juhu Flat

ED Seizes Raj Kundra’s Assets Worth Rs 98 Cr, Including Shilpa Shetty’s Juhu Flat

Credit : Business  Today

18.04.2024 : In a recent development, the Enforcement Directorate (ED) has taken action against Raj Kundra, husband of Bollywood actress Shilpa Shetty, by attaching properties valued at Rs 97.79 crore under the Prevention of Money Laundering Act (PMLA) 2002. This move comes in connection with a Bitcoin ponzi scam amounting to nearly Rs 7,000 crore.

Among the seized assets is a Juhu flat registered under Shilpa Shetty’s name, as well as other properties such as a bungalow in Pune and equity shares owned by Raj Kundra.

The ED’s investigation was initiated following multiple FIRs filed by the Maharashtra Police and Delhi Police against Variable Tech Private Limited and other accused individuals, including late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, and Mahender Bhardwaj.

These individuals are accused of fraudulently accumulating funds worth Rs 6,600 crore in Bitcoin in 2017, promising investors 10% monthly returns. The collected Bitcoin were supposedly for Bitcoin mining, with investors expecting substantial returns in cryptocurrency assets. However, the promoters are alleged to have cheated investors and hidden the acquired Bitcoin in obscure online wallets.

The ED alleges that Raj Kundra received 285 Bitcoin from Amit Bhardwaj, the alleged mastermind behind the ponzi scheme, to establish a Bitcoin mining farm in Ukraine. These cryptocurrency assets, now valued at Rs 150 crore, were obtained through illicit means from unsuspecting investors.

Despite the failed deal, Kundra is purported to still possess the Bitcoin. Several arrests have been made in connection with the case, including Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan, all of whom are currently in judicial custody. However, the main accused, Ajay Bhardwaj and Mahendra Bhardwaj, remain at large.

 

 Source : Business Today