GUWAHATI: The Enforcement Directorate (ED) announced on Thursday that it has provisionally attached immovable and movable properties valued at ₹97.79 crore belonging to Raj Kundra, the businessman and husband of actor Shilpa Shetty, under the Prevention of Money Laundering Act (PMLA) in connection with the Bitcoin investment fraud case.
The assets seized by the central agency include a residential flat situated in Mumbai's upscale Juhu area, currently registered under Shilpa Shetty's name, as well as a residential bungalow located in Pune, and equity shares owned by Kundra.
Click here to join our WhatsApp channel
This latest action by the ED stems from the ongoing investigation into a money laundering case filed against Kundra, based on multiple FIRs lodged by the Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, (late) Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and several multiple level marketing (MLM) agents.
The FIRs allege that the accused individuals fraudulently collected substantial funds in the form of Bitcoins, amounting to ₹6,600 crore in 2017, from investors by making false promises of a 10 per cent monthly return in Bitcoins. However, the collected Bitcoins were purportedly misappropriated and concealed in obscure online wallets, according to the ED's statement.
During its investigation, the ED uncovered that Kundra had received 285 Bitcoins from Amit Bhardwaj, the mastermind behind the Gain Bitcoin Ponzi Scam, for the purpose of setting up a Bitcoin mining farm in Ukraine. Despite the deal falling through, Kundra retained possession of the 285 Bitcoins, currently valued at over ₹150 crore.
Previously, several search operations were conducted in connection with the case, leading to the arrest of Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan last year. They remain in judicial custody, while the main accused, Ajay Bhardwaj and Mahendra Bhardwaj, are still evading law enforcement authorities.
ALSO READ: Daytime Drinking Not A Crime But How Much Matters, Rules Madras High Court
This marks the second attachment of properties in the case, with the ED having previously seized assets worth ₹69 crore. Additionally, the ED has filed prosecution complaints (chargesheet) against the arrested accused.
Kundra, who faced legal troubles in 2021 related to a pornography case, spent two months in Mumbai's Arthur Road jail before being granted bail in September 2021 by a metropolitan magistrate's court in Mumbai.
