MUMBAI : Following the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED) has taken possession of businessman Raj Kundra's movable and immovable properties valued at Rs 97.79 crore in the context of a bitcoin ponzi scam. In addition, a Juhu apartment belonging to Kundra's spouse, actress Shilpa Shetty, is included in the associated properties.
(Also read: Woah! Raj Kundra to act in the film based on his experience in Arthur Road Jail
A Pune bungalow and equity shares in Raj Kundra's name are among the properties linked.
The ED initiated an investigation based on multiple FIRs registered by Maharashtra Police and Delhi Police against one Variable Tech Private Limited, and accused - late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and others.
According to the allegations, the accused obtained enormous sums of money from the public in the form of bitcoins (worth Rs 6,600 crore in 2017 itself) by tricking them into believing they would receive a 10% monthly return of bitcoins.
The collected bitcoins were supposed to be utilised for bitcoin mining and investors were supposed to get huge returns in crypto assets. However, the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets.
According to an investigation by the ED, Raj Kundra received 285 bitcoins from Amit Bhardwaj, the mastermind and promoter of the GainBitcoin ponzi scam, for setting up a bitcoin mining farm in Ukraine. The said bitcoins were sourced out of proceeds of crime collected by Amit Bhardwaj from gullible investors.
Raj Kundra still has 285 bitcoins, which are currently worth over Rs 150 crore, since the purchase did not materialize.
Three people were taken into custody earlier in the case following several search operations: Simpy Bhardwaj on December 17, 2023, Nithin Gaur on December 29, 2023, and Nikhil Mahajan on January 16, 2023. They are all currently being held by the courts.
Ajay and Mahendra Bhardwaj, the primary suspects, are still absconding.
The ED had previously attached resources worth Rs 69 crore.
The prosecution filed the case on June 11, 2019, and on February 14 of this year, they submitted a supplemental complaint. A PMLA court took note of the complaints.
(Also read: Woah! Raj Kundra to act in the film based on his experience in Arthur Road Jail
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Credits – India Today
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