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, and the court has now asked him to appear before it on January 19.
The ED had filed the chargesheet against Kundra in September 2025, alleging that he was involved in a Ponzi scheme that duped investors of millions of rupees. The scheme, which promised unusually high returns to investors, was found to be a fraudulent operation that used Bitcoin as a medium of transaction. The ED’s investigation revealed that Kundra had acquired 285 Bitcoins, which were valued at over ₹150 crore at the time of the investigation.
Kundra is not the only person to be summoned by the court in this case. Dubai-based businessman Rajesh Satija has also been asked to appear before the court on January 19. Satija is alleged to be a key player in the Ponzi scheme, and the ED has accused him of working in tandem with Kundra to dupe investors.
The ED’s investigation into the Bitcoin scam case began in 2020, when several investors approached the agency with complaints of being duped by a group of individuals who had promised them unusually high returns on their investments. The agency’s probe revealed that the scammers had used Bitcoin to launder money and had transferred funds to various countries, including the United Arab Emirates and the United Kingdom.
The ED’s chargesheet against Kundra and Satija is a significant development in the case, and it is likely to have major implications for the two businessmen. The court’s decision to summon them is a clear indication that the agency has gathered sufficient evidence to prosecute them in the case.
The Bitcoin scam case is a stark reminder of the risks associated with investing in cryptocurrencies. While Bitcoin and other cryptocurrencies have gained popularity in recent years, they are still largely unregulated and are often used for illicit activities such as money laundering and terrorist financing.
The ED’s investigation into the Bitcoin scam case is part of a larger crackdown on cryptocurrency-related crimes in India. The agency has been working closely with other law enforcement agencies to identify and prosecute individuals involved in cryptocurrency-related scams.
In recent years, there have been several cases of cryptocurrency-related scams in India, with many investors losing millions of rupees to fraudulent schemes. The ED’s efforts to crack down on these scams are a welcome move, and they are likely to provide a sense of relief to investors who have been duped by scammers.
The court’s decision to summon Kundra and Satija is a significant development in the Bitcoin scam case, and it is likely to be closely watched by the media and the public. The case is a reminder of the risks associated with investing in cryptocurrencies and the need for investors to be cautious when dealing with unfamiliar schemes.
As the case progresses, it will be interesting to see how the court proceedings unfold and what implications the case will have for Kundra and Satija. The ED’s investigation and the court’s decision to summon the two businessmen are a clear indication that the agency is serious about cracking down on cryptocurrency-related crimes in India.
In conclusion, the Bitcoin scam case is a significant development in the world of cryptocurrency and a stark reminder of the risks associated with investing in cryptocurrencies. The ED’s investigation and the court’s decision to summon Kundra and Satija are a welcome move, and they are likely to provide a sense of relief to investors who have been duped by scammers.
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