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 possessing 285 Bitcoins worth over ₹150 crore in a Ponzi scam case, which was uncovered in September 2025.
The court has directed Kundra and Satija to appear before it on January 19, marking a crucial step in the investigation into the alleged Bitcoin scam. The ED had filed the chargesheet against Kundra and Satija under the Prevention of Money Laundering Act (PMLA), alleging that they were involved in a large-scale Ponzi scheme that duped numerous investors of their hard-earned money.
The ED’s investigation into the Bitcoin scam case began in 2025, when it received complaints from several investors who had been cheated by a company that promised unusually high returns on investments in Bitcoin. The agency’s probe revealed that the company was operating a Ponzi scheme, where returns were paid to early investors using the money invested by later investors. The scheme eventually collapsed, causing significant financial losses to the investors.
The ED’s investigation led to the discovery of a large number of Bitcoins in Kundra’s possession, which were allegedly acquired using the money invested by the victims of the Ponzi scheme. The agency estimated the value of the Bitcoins to be over ₹150 crore, making it one of the largest Bitcoin scams in India.
Kundra’s involvement in the Bitcoin scam case has sent shockwaves in the business and entertainment industries, where he is a well-known figure. The businessman has been associated with several ventures, including a chain of hotels and a production company that has produced several Bollywood films. His wife, Shilpa Shetty, is a popular Bollywood actress who has also been a contestant on the reality TV show “Big Boss”.
The ED’s chargesheet against Kundra and Satija alleges that they were involved in a conspiracy to cheat investors and launder money using the Bitcoin scheme. The agency has accused them of violating various provisions of the PMLA, including those related to money laundering and conspiracy.
The court’s decision to summon Kundra and Satija marks a significant step in the investigation into the Bitcoin scam case. The two accused will have to appear before the court on January 19, where they will be required to respond to the charges levelled against them. The outcome of the case will depend on the evidence presented by the ED and the defence put up by Kundra and Satija.
The Bitcoin scam case has highlighted the risks associated with investing in cryptocurrencies, particularly in schemes that promise unusually high returns. The case has also underscored the need for greater regulation and oversight of the cryptocurrency market in India, where there have been several instances of scams and frauds in recent years.
In conclusion, the summoning of Raj Kundra by the court in the ₹150-crore Bitcoin scam case marks a significant development in the investigation into the alleged Ponzi scheme. The case has highlighted the risks associated with investing in cryptocurrencies and the need for greater regulation and oversight of the market. The outcome of the case will be closely watched by the business and entertainment industries, where Kundra is a well-known figure.
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