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 cognizance of the chargesheet filed against Kundra by the Enforcement Directorate (ED). The ED had accused Kundra of possessing 285 Bitcoins, worth over ₹150 crore, in a Ponzi scam case. Kundra, along with Dubai-based businessman Rajesh Satija, has been asked to appear before the court on January 19.
The ED had filed the chargesheet against Kundra in September 2025, alleging that he was involved in a Bitcoin-based Ponzi scheme. The agency had claimed that Kundra had acquired the Bitcoins through a company called Satyam Infra, which was allegedly involved in the scam. The ED had also alleged that Kundra had failed to disclose the source of the funds used to purchase the Bitcoins, which is a violation of the Prevention of Money Laundering Act (PMLA).
The case against Kundra is part of a larger investigation into a Bitcoin-based Ponzi scheme that was allegedly operated by Satyam Infra. The company had promised investors high returns on their investments in Bitcoin, but instead, it used the funds to pay earlier investors, which is a classic characteristic of a Ponzi scheme. The ED had alleged that Kundra was one of the beneficiaries of the scam, and that he had used the Bitcoins to launder money.
The summons issued by the court is a significant development in the case, as it indicates that the court has found prima facie evidence against Kundra. The court’s decision to take cognizance of the chargesheet filed by the ED also suggests that the agency has provided sufficient evidence to support its allegations against Kundra.
Kundra’s involvement in the Bitcoin scam case has raised questions about the lack of regulation in the cryptocurrency market in India. The government has been grappling with the issue of how to regulate cryptocurrencies, which have been gaining popularity in recent years. The ED’s investigation into the Bitcoin scam case highlights the need for stricter regulations to prevent the misuse of cryptocurrencies for illicit activities such as money laundering and Ponzi schemes.
The case against Kundra is also a reminder of the risks associated with investing in cryptocurrencies. While cryptocurrencies such as Bitcoin have the potential to offer high returns, they are also highly volatile and can be used for illicit activities. Investors should exercise caution when investing in cryptocurrencies and should do their due diligence before putting their money into any investment scheme.
In conclusion, the summons issued by the court 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 in the cryptocurrency market and the risks associated with investing in cryptocurrencies. As the investigation continues, it will be interesting to see how the case unfolds and what implications it will have for the cryptocurrency market in India.
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