The Enforcement Directorate (ED) has seized assets worth Rs 97.79 crore owned by Raj Kundra under the Prevention of Money Laundering Act, 2002, including Mumbai and Pune flats and equity shares held by Shilpa Shetty and Raj Kundra.
In light of these actions, Raj Kundra’s representation released a statement from their legal counsel, Prashant Patil. Patil affirmed their intention to abide by legal proceedings and outlined plans to undertake measures outlined by the Prevention of Money Laundering Act to safeguard his clients’ rights and properties. He stated, “At first glance, there doesn’t appear to be a solid case against Mr. Raj Kundra and Mrs. Shilpa Shetty Kundra.” Expressing trust in the justice system, Patil conveyed their confidence in achieving fairness through the investigative process and pledged cooperation with the authorities as needed.
This investigation by the ED is connected to various FIRs by Maharashtra and Delhi Police concerning a Bitcoin Ponzi scheme accused of duping investors with promises of high returns, hiding the proceeds in anonymous online wallets.
ED’s findings suggest Raj Kundra received 285 Bitcoins, worth over Rs. 150 crore, from Amit Bhardwaj, the scheme’s architect, for a failed Bitcoin mining operation in Ukraine. These Bitcoins are believed to be part of the illicit gains from investors. With ongoing investigations, previous arrests linked to the scam have been made, with prime suspects still at large. The ED had earlier seized properties worth Rs 69 crore related to this case, and their probe continues.
