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, to appear before it 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 having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case, which was registered in September 2025.
According to the ED, Kundra and Satija were involved in a cryptocurrency-based Ponzi scheme, where investors were promised high returns on their investments in Bitcoin. However, the accused allegedly used the funds raised from investors to purchase Bitcoins, which were then transferred to their own accounts. The ED claimed that Kundra had 285 Bitcoins in his possession, which were valued at over ₹150 crore at the time of the investigation.
The court has asked Kundra and Satija to appear before it on January 19, marking a significant milestone in the investigation into the Bitcoin scam case. The ED had filed a chargesheet against the accused under the Prevention of Money Laundering Act (PMLA), which allows for the prosecution of individuals involved in money laundering and other financial crimes.
The Bitcoin scam case has been making headlines in recent months, with several high-profile individuals being accused of involvement in the scheme. The ED has been investigating the case, and has already arrested several individuals in connection with the scam. The accused have been charged with various offences, including money laundering, cheating, and conspiracy.
The case against Kundra and Satija is particularly significant, given their high-profile status and the large amount of money involved. The ED has alleged that the accused used their influence and connections to lure investors into the Ponzi scheme, promising them high returns on their investments. However, the investors were left with significant losses, and the accused allegedly made off with the funds.
The court’s decision to summon Kundra and Satija is a major breakthrough in the case, and is likely to have significant implications for the accused. If convicted, they could face serious penalties, including imprisonment and fines. The case is also likely to have a ripple effect on the cryptocurrency industry, which has been facing increased scrutiny from regulatory bodies in recent months.
The ED’s investigation into the Bitcoin scam case has been ongoing for several months, and has involved the seizure of several assets, including properties, vehicles, and bank accounts. The agency has also frozen several bank accounts and cryptocurrencies, including Bitcoins, in connection with the case.
The Bitcoin scam case has highlighted the risks associated with investing in cryptocurrencies, particularly in schemes that promise high returns with little risk. The case has also underscored the need for greater regulation and oversight of the cryptocurrency industry, which has been largely unregulated until now.
In conclusion, the court’s decision to summon Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case is a significant development in the investigation. The case has highlighted the risks associated with investing in cryptocurrencies and the need for greater regulation and oversight of the industry. As the investigation continues, it remains to be seen what penalties the accused will face if convicted.
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