Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development, a special court has issued a summons to businessman Raj Kundra, husband of Bollywood actress Shilpa Shetty, in connection with a ₹150-crore Bitcoin scam case. The court’s move comes after it took cognizance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra and another accused, Dubai-based businessman Rajesh Satija. The ED had filed the chargesheet in September 2025, alleging that Kundra was in possession of 285 Bitcoins worth over ₹150 crore, which were acquired through a Ponzi scam.
The court has directed Kundra and Satija to appear before it on January 19, marking a crucial step in the investigation into the high-profile scam. The ED’s chargesheet had outlined the alleged role of Kundra and Satija in the scam, which involved the use of Bitcoins to dupe investors. The agency had claimed that the accused had used the virtual currency to launder money and had acquired a significant amount of wealth through the scam.
The Bitcoin scam case has been making headlines for several months, with the ED conducting raids and arrests in connection with the investigation. The agency had alleged that the scam involved a Ponzi scheme, where investors were lured into putting their money into a fake investment scheme with promises of high returns. The scammers had used the Bitcoins to transfer funds and had acquired a significant amount of wealth through the scam.
The ED’s investigation had revealed that Kundra was one of the key accused in the case, with allegations that he had acquired 285 Bitcoins worth over ₹150 crore. The agency had claimed that Kundra had used the virtual currency to launder money and had transferred funds to various accounts, including those of his associates. The ED had also alleged that Kundra had used the Bitcoins to invest in various assets, including real estate and other businesses.
The court’s summons to Kundra and Satija marks a significant development in the case, as it indicates that the investigation is moving forward and that the accused will have to face the law. The ED’s chargesheet had provided detailed evidence of the alleged role of Kundra and Satija in the scam, and the court will now examine the evidence and hear the arguments of the accused.
The Bitcoin scam case has raised concerns about the use of virtual currencies in India, with many experts warning about the risks of investing in such currencies. The government has also taken steps to regulate the use of virtual currencies, with the Reserve Bank of India (RBI) issuing guidelines for the use of cryptocurrencies.
The case against Kundra and Satija is also significant because it highlights the risks of investing in Ponzi schemes. The ED’s investigation has revealed that the scammers had used the promise of high returns to lure investors into putting their money into the fake investment scheme. The agency has warned investors to be cautious and to do their due diligence before investing in any scheme.
In conclusion, the court’s summons to Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case marks a significant development in the investigation. The ED’s chargesheet had provided detailed evidence of the alleged role of the accused in the scam, and the court will now examine the evidence and hear the arguments of the accused. The case highlights the risks of investing in virtual currencies and Ponzi schemes, and it is a reminder to investors to be cautious and to do their due diligence before investing in any scheme.
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