Money Laundering Case: Raj Kundra’s assets valued at Rs 98 crore!

Saurabh Singh
3 Min Read

In light of recent developments, Raj Kundra, the actor Shilpa Shetty’s husband, has come under the radar of the Enforcement Directorate. Seizing properties amounting to almost Rs 97.79 crore from Raj Kundra, including Shilpa Shetty’s apartment in Juhu, has been a significant move. The ongoing investigation uncovers a link to a staggering Rs 7,000 crore Bitcoin Ponzi scheme.

Mumbai: The Prevention of Money Laundering Act mandates the Enforcement Directorate to take action. Raj Kundra’s assets, including stock shares and a home in Pune, have now been targeted for attachment. Numerous FIRs were filed against Variable Tech Private Limited and others, implicating Amit Bhardwaj in accumulating Bitcoin worth Rs 6,600 crore in 2017.

Promising high returns to unsuspecting investors, the illicit operation funneled Bitcoin into obscure web wallets, leaving individuals deceived. Supposedly, Amit Bhardwaj forwarded 285 Bitcoins to Raj Kundra for a cryptic mining venture in Ukraine. These assets, estimated at Rs 150 crore, are believed to be proceeds of illicit activities. The Enforcement Directorate revealed that Raj Kundra obtained the Bitcoin stash from Amit Bhardwaj to set up a mining operation overseas.

The primary suspects in the Bitcoin Ponzi scheme, Ajay Bhardwaj and Mahendra Bhardwaj, remain elusive. Meanwhile, Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan find themselves in custody for their involvement.

Shilpa Shetty and Raj Kundra’s Stand

Engaging in a legal battle, Prashant Patil, an advocate, represents the interests of Raj Kundra and Shilpa Shetty. In a recent statement to the press, he emphasized their commitment to upholding the law and defending their property and freedom. The legal counsel remains optimistic about the outcome of the case, expressing full faith in the judicial process and investigative agencies’ integrity.

This piece delves into the repercussions of the Enforcement Directorate’s seizure of assets owned by Raj Kundra and Shilpa Shetty, valued at an astounding Rs 97.79 crore. 

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