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 unearthed in September 2025.
According to the chargesheet filed by the ED, Kundra, along with Dubai-based businessman Rajesh Satija, has been accused of being involved in a large-scale Bitcoin scam. The scam, which is believed to have duped numerous investors, was allegedly run by Satija, who had promised unusually high returns to investors who invested in his Bitcoin scheme. The ED has alleged that Kundra had invested in Satija’s scheme and had received a significant amount of Bitcoins in return.
The court has now summoned Kundra, as well as Satija, to appear before it on January 19. The summons were issued after the court took cognisance of the chargesheet filed by the ED, which had accused Kundra of violating the provisions of the Prevention of Money Laundering Act (PMLA). The PMLA is a law that aims to prevent and punish money laundering activities in India.
The ED had launched an investigation into the Bitcoin scam case after receiving complaints from several investors who had allegedly been duped by Satija’s scheme. During the course of the investigation, the ED had found that Kundra had invested in Satija’s scheme and had received a significant amount of Bitcoins in return. The ED had then accused Kundra of having 285 Bitcoins worth over ₹150 crore, which he had allegedly received as part of the scam.
The Bitcoin scam case has sent shockwaves in the business and entertainment industries, with many questioning how Kundra, a well-known businessman and husband of a Bollywood actress, could have been involved in such a scam. The case has also raised questions about the regulation of cryptocurrencies in India, with many calling for stricter laws to prevent such scams from happening in the future.
The ED has been cracking down on Bitcoin scams and other cryptocurrency-related frauds in recent years, with several high-profile cases being registered against individuals and companies accused of violating the PMLA. The agency has also been working to raise awareness about the risks associated with investing in cryptocurrencies, which have been known to be highly volatile and prone to manipulation.
In this case, the ED has alleged that Kundra had invested in Satija’s scheme despite knowing that it was a Ponzi scheme. The agency has also accused Kundra of having failed to disclose his investments in the scheme to the authorities, which is a violation of the PMLA.
The court’s decision to summon Kundra and Satija is a significant development in the case, and it remains to be seen how the two individuals will respond to the allegations against them. The case is likely to be closely watched by the business and entertainment industries, as well as by regulators and law enforcement agencies, who will be keen to see how the court handles the case.
In conclusion, the ₹150-crore Bitcoin scam case has taken a significant turn with the court summoning Raj Kundra and Rajesh Satija to appear before it on January 19. The case has raised questions about the regulation of cryptocurrencies in India and has highlighted the need for stricter laws to prevent such scams from happening in the future. As the case progresses, it will be interesting to see how the court handles the allegations against Kundra and Satija, and what implications the case will have for the business and entertainment industries.
About the Author
