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 cognizance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra and another accused, Dubai-based businessman Rajesh Satija. The accused have been directed to appear before the court on January 19.
The ED had filed the chargesheet against Kundra and Satija in September 2025, accusing them of being involved in a Ponzi scam that involved the use of Bitcoins. According to the ED, Kundra had 285 Bitcoins worth over ₹150 crore, which were allegedly used to perpetuate the scam. The agency had also alleged that Kundra and Satija had laundered money through the use of cryptocurrencies, violating the provisions of the Prevention of Money Laundering Act (PMLA).
The case against Kundra and Satija is a complex one, involving multiple layers of financial transactions and the use of cryptocurrencies to launder money. The ED had launched an investigation into the matter after receiving complaints from several investors who had been duped by the accused. The agency had conducted raids on several locations, including Kundra’s residence and office, and had seized documents and digital evidence that allegedly linked him to the scam.
The use of Bitcoins in the scam is a significant aspect of the case, as it highlights the growing concern about the use of cryptocurrencies for illicit activities. Bitcoins and other cryptocurrencies have gained popularity in recent years due to their decentralized nature and the anonymity they offer. However, this anonymity has also made them attractive to individuals and groups involved in illicit activities, such as money laundering and terrorist financing.
The ED’s investigation into the Bitcoin scam case is part of a larger effort by the government to crack down on the use of cryptocurrencies for illicit activities. In recent years, the government has taken several steps to regulate the use of cryptocurrencies, including the introduction of the PMLA, which provides for stringent penalties for individuals and entities involved in money laundering activities.
The summons issued to Kundra and Satija is a significant development in the case, as it indicates that the court has taken cognizance of the chargesheet filed by the ED. The accused will now have to appear before the court and respond to the allegations made against them. If convicted, they could face severe penalties, including imprisonment and fines.
The case against Kundra and Satija is also a reminder of the risks associated with investing in cryptocurrencies. While cryptocurrencies have the potential to offer high returns, they are also highly volatile and can be used for illicit activities. Investors should exercise caution when investing in cryptocurrencies and should ensure that they are dealing with reputable and licensed entities.
In conclusion, the summons issued to Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case is a significant development that highlights the growing concern about the use of cryptocurrencies for illicit activities. The case is a reminder of the importance of regulating the use of cryptocurrencies and of the need for investors to exercise caution when dealing with them. As the case progresses, it will be interesting to see how the court navigates the complex issues involved and how the accused respond to the allegations made against them.
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