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 taking cognisance of the chargesheet filed against Kundra by the Enforcement Directorate (ED). The ED had accused Kundra of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case, which was unearthed in September 2025.
According to the ED’s investigation, Kundra, along with Dubai-based businessman Rajesh Satija, allegedly invested in a Bitcoin-based Ponzi scheme, which promised unusually high returns to investors. The scheme, which was operated by a company called BitConnect, promised investors a monthly return of 40% on their investments. However, the company turned out to be a Ponzi scheme, and thousands of investors lost their money.
The ED’s chargesheet alleged that Kundra had invested in the scheme and had also promoted it on social media, encouraging others to invest. The agency also alleged that Kundra had received a commission for promoting the scheme, which was used to lure more investors. The chargesheet also alleged that Kundra had not disclosed his investments in the scheme to the authorities, which is a violation of the Prevention of Money Laundering Act (PMLA).
The court has asked Kundra and Satija to appear before it on January 19, 2026. The summons were issued after the court took cognisance of the chargesheet filed by the ED. The court’s decision is a significant development in the case, as it indicates that the court has found prima facie evidence against Kundra and Satija.
The Bitcoin scam case has been making headlines for several months, with several high-profile individuals being accused of investing in the scheme. The case has also raised concerns about the lack of regulation in the cryptocurrency market, which makes it vulnerable to scams and fraudulent activities.
The ED’s investigation into the case began in 2025, after several investors complained about losing their money in the scheme. The agency has been working to track down the masterminds behind the scheme and to recover the losses incurred by the investors.
Kundra’s involvement in the case has been a subject of controversy, with several media outlets reporting on his alleged links to the scheme. Kundra has denied any wrongdoing, claiming that he was also a victim of the scam. However, the ED’s chargesheet alleges that Kundra was aware of the scheme’s fraudulent nature and had still chosen to invest in it.
The court’s summons to Kundra and Satija is a significant development in the case, as it indicates that the court is taking the allegations against them seriously. The case is likely to be closely watched, as it has the potential to expose the dark underbelly of the cryptocurrency market.
In recent years, the cryptocurrency market has grown exponentially, with several new players entering the market. However, the lack of regulation has made it vulnerable to scams and fraudulent activities. The Bitcoin scam case is a wake-up call for regulators, who need to take steps to regulate the market and protect investors.
The case is also a reminder that investing in cryptocurrencies is a high-risk activity, and investors need to be cautious before putting their money into these schemes. The promise of high returns is often a red flag, and investors need to do their due diligence before investing.
In conclusion, the court’s summons to Raj Kundra in the ₹150-crore Bitcoin scam case is a significant development, which has the potential to expose the dark underbelly of the cryptocurrency market. The case is a wake-up call for regulators, who need to take steps to regulate the market and protect investors. Investors also need to be cautious before investing in cryptocurrencies, as the promise of high returns is often a red flag.
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