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 having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case, and the court has now asked him to appear before it on January 19.
The case against Kundra and others is related to a Ponzi scheme, where investors were allegedly lured into investing in Bitcoins with promises of high returns. The ED had filed a chargesheet against Kundra and Dubai-based businessman Rajesh Satija, who have been accused of being involved in the scam. The chargesheet alleged that Kundra had acquired 285 Bitcoins, which are worth over ₹150 crore, through the scam.
The ED had launched an investigation into the case in 2022, after receiving complaints from several investors who had lost money in the scam. The investigation had revealed that the scam was being operated by a group of individuals, including Kundra and Satija, who had promised investors high returns on their investments in Bitcoins. However, the investors had never received the promised returns, and had instead lost their money.
The court’s decision to summon Kundra and Satija is a significant development in the case, and indicates that the investigation is moving forward. The ED had filed the chargesheet against Kundra and Satija under the Prevention of Money Laundering Act (PMLA), which allows for the prosecution of individuals involved in money laundering and other financial crimes.
Kundra’s involvement in the scam has raised several questions, including how he had acquired the 285 Bitcoins and what his role was in the Ponzi scheme. The ED had alleged that Kundra had used the Bitcoins to launder money and had also used them to make investments in other businesses.
The case against Kundra is not the first time that he has been involved in a controversy. In 2021, he was arrested by the Mumbai Police in connection with a pornography case, and was later granted bail. The case had sparked a lot of controversy, with several individuals coming forward to accuse Kundra of being involved in the production and distribution of pornographic content.
The Bitcoin scam case, however, is a more serious matter, and could have significant implications for Kundra and others involved in the scam. The ED has alleged that the scam had caused losses of over ₹150 crore to investors, and had also involved money laundering and other financial crimes.
The court’s decision to summon Kundra and Satija is a significant development in the case, and indicates that the investigation is moving forward. The case is likely to be closely watched, given the involvement of high-profile individuals and the large amounts of money involved.
In conclusion, the summoning of Raj Kundra by the court in the ₹150-crore Bitcoin scam case is a significant development, and indicates that the investigation is moving forward. The case has raised several questions, including how Kundra had acquired the 285 Bitcoins and what his role was in the Ponzi scheme. The ED’s allegations against Kundra are serious, and could have significant implications for him and others involved in the scam.
The case is a reminder of the risks involved in investing in cryptocurrencies, and the need for investors to be cautious and to do their due diligence before making any investments. It also highlights the need for regulatory bodies to be vigilant and to take action against individuals and companies involved in fraudulent activities.
As the case moves forward, it will be interesting to see how the court proceedings unfold, and what the outcome will be. One thing is certain, however, and that is that the case will be closely watched, given the involvement of high-profile individuals and the large amounts of money involved.
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