Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development in the ₹150-crore Bitcoin scam case, a special court has summoned businessman Raj Kundra, the husband of Bollywood actress Shilpa Shetty, to appear before it on January 19. The court’s decision comes after taking cognizance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra and Dubai-based businessman Rajesh Satija. The ED had accused Kundra of possessing 285 Bitcoins, valued at over ₹150 crore, in connection with a Ponzi scam case.
The case, which has been ongoing since September 2025, has taken a new turn with the court’s decision to summon Kundra and Satija. The ED had filed a chargesheet against the two businessmen, alleging that they were involved in a Bitcoin scam that duped numerous investors of their hard-earned money. The scam, which was operated by Satija, promised investors high returns on their investments in Bitcoin, but ultimately turned out to be a Ponzi scheme.
According to the ED, Kundra had invested in the scheme and had acquired 285 Bitcoins, which are valued at over ₹150 crore. The agency alleged that Kundra was aware of the scam and had still chosen to invest in it, making him a party to the crime. The ED also alleged that Kundra had not disclosed his investments in the Bitcoin scheme to the authorities, which is a violation of the Prevention of Money Laundering Act (PMLA).
The court’s decision to summon Kundra and Satija is a significant development in the case, as it indicates that the authorities are serious about taking action against those involved in the scam. The ED has been investigating the case for several months and has gathered evidence against Kundra and Satija. The agency has alleged that the two businessmen were involved in a complex web of transactions, which were designed to launder money and avoid detection by the authorities.
The Bitcoin scam case has raised concerns about the lack of regulation in the cryptocurrency market in India. The government has been grappling with the issue of how to regulate cryptocurrencies, which have been gaining popularity in recent years. The lack of regulation has made it easier for scammers to operate in the market, duping investors of their money.
The case against Kundra and Satija is not the only one of its kind. There have been several cases of Bitcoin scams in India, which have resulted in significant financial losses for investors. The ED has been actively investigating these cases and has taken action against several individuals and companies involved in the scams.
The summons issued to Kundra and Satija is a warning to others who may be involved in similar scams. The authorities are serious about taking action against those who engage in illegal activities, including money laundering and fraud. The case is also a reminder to investors to be cautious when investing in cryptocurrencies, as the market is still largely unregulated.
In conclusion, the ₹150-crore Bitcoin scam case has taken a new turn with the court’s decision to summon Raj Kundra and Rajesh Satija. The case highlights the need for greater regulation in the cryptocurrency market in India and the need for investors to be cautious when investing in cryptocurrencies. The ED’s action against Kundra and Satija is a significant development in the case, and it will be interesting to see how the case unfolds in the coming weeks.
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