Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development in the ₹150-crore Bitcoin scam case, a special court has summoned businessman Raj Kundra, the husband of Bollywood actress Shilpa Shetty, to appear before it on January 19. This move comes after the court took cognisance of the chargesheet filed against Kundra by the Enforcement Directorate (ED). The ED had accused Kundra of being involved in a Ponzi scam, where he allegedly possessed 285 Bitcoins worth over ₹150 crore.
The case against Kundra and others, including Dubai-based businessman Rajesh Satija, began in September 2025, when the ED filed a chargesheet alleging that they were involved in a large-scale Bitcoin scam. According to the ED, the scam was a classic case of a Ponzi scheme, where investors were promised unusually high returns on their investments in Bitcoin. However, the investments were never actually made, and the money was instead used to fund the lavish lifestyles of the accused.
The ED’s investigation revealed that Kundra had allegedly acquired 285 Bitcoins, which were valued at over ₹150 crore at the time. The agency alleged that Kundra had used these Bitcoins to launder money and fund his own business ventures. The ED also accused Kundra of being involved in a complex web of transactions, which were designed to conceal the true nature of the scam.
The court’s decision to summon Kundra and Satija is a significant development in the case, as it indicates that the court has found sufficient evidence to proceed with the trial. The summons requires Kundra and Satija to appear before the court on January 19, where they will be required to answer the charges levelled against them.
The Bitcoin scam case has been making headlines for several months, with the ED conducting numerous raids and seizures in connection with the investigation. The agency has also frozen several bank accounts and assets belonging to the accused, in an effort to prevent them from disposing of their ill-gotten gains.
The case has also raised questions about the regulation of cryptocurrencies in India, with many experts calling for stricter laws and regulations to prevent such scams from occurring in the future. The Indian government has been cautious in its approach to cryptocurrencies, with the Reserve Bank of India (RBI) imposing a ban on banks from dealing with cryptocurrency exchanges in 2018. However, the ban was later lifted by the Supreme Court, which ruled that it was unconstitutional.
The summons issued to Kundra and Satija is a reminder that the Indian authorities are taking a tough stance on cryptocurrency scams and money laundering. The case is likely to have significant implications for the cryptocurrency industry in India, with many experts predicting that it will lead to increased regulatory scrutiny and oversight.
As the case against Kundra and Satija proceeds, it will be interesting to see how the court navigates the complex issues surrounding cryptocurrency regulation and money laundering. The case has the potential to set important precedents for the Indian judiciary, and its outcome will be closely watched by the cryptocurrency industry and law enforcement agencies around the world.
In conclusion, the summons issued to Raj Kundra in the ₹150-crore Bitcoin scam case is a significant development in the investigation. The case highlights the need for stricter regulations and laws to prevent such scams from occurring in the future. As the case proceeds, it will be important to monitor the developments and see how the court navigates the complex issues surrounding cryptocurrency regulation and money laundering.
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