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 uncovered in September 2025.
According to the ED, Kundra and Dubai-based businessman Rajesh Satija were involved in a cryptocurrency-based Ponzi scheme, which duped numerous investors of their hard-earned money. The scheme promised unusually high returns to investors, which is a common trait of Ponzi schemes. The ED’s investigation revealed that Kundra and Satija had amassed a significant amount of wealth through this scheme, including 285 Bitcoins worth over ₹150 crore.
The court has now summoned Kundra and Satija to appear before it on January 19. The summons is a significant step in the case, as it indicates that the court has found sufficient evidence to proceed with the trial. The ED’s chargesheet had provided detailed information about the alleged roles of Kundra and Satija in the scam, and the court’s decision to take cognisance of the chargesheet suggests that the prosecution has a strong case against the accused.
The Bitcoin scam case has been a subject of intense scrutiny and investigation by the ED, which has been probing the matter under the Prevention of Money Laundering Act (PMLA). The ED’s investigation has revealed that the scam was operated by a group of individuals who promised unusually high returns to investors in the form of cryptocurrencies. The group used various tactics to lure investors, including fake promises of high returns and pressure tactics to invest quickly.
The case against Kundra and Satija is significant, as it highlights the risks associated with cryptocurrency investments. While cryptocurrencies have gained popularity in recent years, they are also vulnerable to scams and fraudulent activities. The case serves as a reminder to investors to be cautious when dealing with cryptocurrency investments and to do their due diligence before investing.
The ED’s investigation has also highlighted the need for stricter regulations and laws to govern the cryptocurrency market. The lack of clear regulations and laws has created a grey area, which scammers and fraudsters have exploited to dupe investors. The government has been working to introduce stricter regulations and laws to govern the cryptocurrency market, but more needs to be done to prevent such scams.
In conclusion, the court’s decision to summon Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case is a significant development. The case highlights the risks associated with cryptocurrency investments and the need for stricter regulations and laws to govern the market. The ED’s investigation and the court’s decision to take cognisance of the chargesheet suggest that the prosecution has a strong case against the accused. As the case proceeds, it will be interesting to see how the court handles the matter and what implications it will have for the cryptocurrency market.
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