Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development, a special court has summoned businessman Raj Kundra, the husband of Bollywood actress Shilpa Shetty, in connection with a ₹150-crore Bitcoin scam case. The court’s decision comes after it took cognizance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra and another accused, Dubai-based businessman Rajesh Satija. The two have been asked to appear before the court on January 19.
The ED had accused Kundra of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case. The agency had filed a chargesheet against Kundra and Satija in September 2025, alleging that they were involved in a cryptocurrency scam that duped several investors of their hard-earned money. The ED’s investigation revealed that Kundra and Satija had used the Bitcoins to launder money and fund their lavish lifestyles.
The case against Kundra and Satija is a classic example of a Ponzi scheme, where investors are lured into investing in a fake investment scheme with promises of unusually high returns. The scammers use the money invested by new investors to pay off earlier investors, creating a false impression of a legitimate investment opportunity. However, the scheme eventually collapses, leaving most investors with significant financial losses.
The ED’s investigation into the Bitcoin scam case began in 2020, after several investors complained of being duped by Kundra and Satija. The agency raided several premises linked to the two businessmen and seized several documents, including computer hardware and mobile phones. The ED also froze several bank accounts and cryptocurrencies worth millions of rupees.
Kundra’s involvement in the Bitcoin scam case is not his first brush with controversy. In 2021, he was arrested by the Mumbai Police for allegedly producing and distributing pornographic content. He was later granted bail, but the case against him is still pending.
The Bitcoin scam case has once again highlighted the risks associated with investing in cryptocurrencies. While cryptocurrencies have the potential to offer high returns, they are also vulnerable to scams and market volatility. Investors need to be cautious when investing in cryptocurrencies and should do their due diligence before putting their money into any investment scheme.
The court’s decision to summon Kundra and Satija is a significant step towards bringing the accused to justice. The ED’s chargesheet against the two businessmen is a detailed document that outlines their alleged role in the Bitcoin scam case. The agency has alleged that Kundra and Satija used their influence and network to lure investors into the scam, promising them unusually high returns.
The Bitcoin scam case has also raised questions about the regulation of cryptocurrencies in India. While the government has taken steps to regulate cryptocurrencies, there is still a lack of clarity on the rules and regulations governing the sector. The ED’s investigation into the Bitcoin scam case has highlighted the need for stronger regulations to prevent such scams in the future.
In conclusion, the court’s decision to summon Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case is a significant development in the investigation. The ED’s chargesheet against the two businessmen has alleged that they were involved in a Ponzi scheme that duped several investors of their hard-earned money. The case has once again highlighted the risks associated with investing in cryptocurrencies and the need for stronger regulations to prevent such scams in the future.
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