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 cognisance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra and another accused, Dubai-based businessman Rajesh Satija. The ED had accused Kundra of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case, which was uncovered in September 2025.
According to the ED, Kundra and Satija were involved in a complex web of transactions, which included the purchase and sale of Bitcoins, as well as the laundering of money through various channels. The agency alleged that the two businessmen had used the Bitcoins to launder money and had also invested in various other assets, including real estate and other businesses.
The ED’s investigation into the case began in 2025, when it received a complaint from a group of investors who had allegedly been duped by Kundra and Satija. The investors had claimed that they had invested large sums of money in a Bitcoin-based investment scheme, which had promised them high returns. However, when they tried to withdraw their investments, they found that their money had been laundered and was no longer available.
The ED’s investigation revealed that Kundra and Satija had used the invested money to purchase Bitcoins, which they then sold at a profit. The agency alleged that the two businessmen had also used the Bitcoins to launder money and had invested in various other assets, including real estate and other businesses.
In its chargesheet, the ED alleged that Kundra had used his company, Viaan Industries, to launder money and had also used the company’s accounts to purchase and sell Bitcoins. The agency also alleged that Kundra had used his connections with other businessmen and investors to launder money and had also used his influence to persuade others to invest in the Bitcoin-based investment scheme.
The court’s decision to summon Kundra and Satija is a significant development in the case, as it indicates that the agency has sufficient evidence to proceed with the prosecution of the two businessmen. The court has asked Kundra and Satija to appear before it on January 19, when it will hear the case and decide on the next course of action.
The Bitcoin scam case is one of the largest and most complex cases of its kind in India, and it has raised concerns about the lack of regulation and oversight in the cryptocurrency market. The case has also highlighted the risks associated with investing in cryptocurrencies, particularly in schemes that promise high returns with little or no risk.
The ED’s investigation into the case is ongoing, and it is likely that more arrests and summons will follow in the coming weeks and months. The agency is also working with other law enforcement agencies, including the Income Tax Department and the Securities and Exchange Board of India (SEBI), to crack down on cryptocurrency-based scams and to regulate the market.
In conclusion, the summoning of Raj Kundra by the court in the ₹150-crore Bitcoin scam case is a significant development, and it highlights the seriousness with which the authorities are treating the case. The case is a reminder of the risks associated with investing in cryptocurrencies and the importance of regulating the market to prevent scams and other forms of illicit activity.
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