Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
The world of cryptocurrency has been marred by scams and fraudulent activities, with many high-profile cases making headlines in recent years. One such case is the ₹150-crore Bitcoin scam, which has now taken a significant turn with the special court summoning businessman Raj Kundra. The court’s decision comes after taking cognisance of the chargesheet filed against Kundra by the Enforcement Directorate (ED).
In September 2025, the ED accused Kundra of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case. The agency alleged that Kundra, who is the husband of Bollywood actress Shilpa Shetty, was involved in a cryptocurrency scam that duped numerous investors of their hard-earned money. The ED’s investigation revealed that Kundra had acquired a significant amount of Bitcoins, which were then used to launder money and fund other illicit activities.
The chargesheet filed by the ED against Kundra is a significant development in the case, as it marks a major milestone in the investigation. The agency has been probing the scam for several months, and the chargesheet is a culmination of the evidence gathered during the investigation. The ED has accused Kundra of violating the Prevention of Money Laundering Act (PMLA) and has sought his prosecution under the law.
Kundra is not the only one who has been summoned by the court. 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 scam, and his involvement has been under scrutiny by the ED. The court’s decision to summon both Kundra and Satija is a clear indication that the investigation is progressing, and the authorities are determined to bring those responsible to justice.
The ₹150-crore Bitcoin scam is a complex case that involves multiple parties and transactions. The ED has alleged that the scam was perpetrated by a group of individuals who promised investors high returns on their investments in cryptocurrency. However, the investors were left high and dry, and their money was laundered through various channels. The ED’s investigation has revealed that the scam was a well-planned and executed operation, with multiple layers of transactions and money laundering.
The case against Kundra and Satija is a significant one, as it highlights the risks associated with cryptocurrency investments. While cryptocurrencies like Bitcoin have gained popularity in recent years, they are also vulnerable to scams and fraudulent activities. The ED’s investigation and the court’s decision to summon Kundra and Satija are a reminder that the authorities are taking a tough stance against those who engage in illicit activities.
The PMLA is a powerful law that gives the ED the authority to investigate and prosecute cases of money laundering. The law defines money laundering as the process of converting “black money” into “white money” through various means, including the use of cryptocurrency. The ED has been using the PMLA to investigate and prosecute cases of money laundering, and the chargesheet filed against Kundra is a significant example of the agency’s efforts to combat financial crimes.
The court’s decision to summon Kundra and Satija is a major development in the case, and it is likely to have significant implications for the accused. If convicted, Kundra and Satija could face severe penalties, including imprisonment and fines. The case is also likely to have a ripple effect on the cryptocurrency market, as it highlights the risks associated with investing in cryptocurrencies.
In conclusion, the ₹150-crore Bitcoin scam case is a complex and significant one, and the court’s decision to summon Raj Kundra and Rajesh Satija is a major development. The ED’s investigation and the chargesheet filed against Kundra are a testament to the agency’s efforts to combat financial crimes and bring those responsible to justice. As the case progresses, it is likely to have significant implications for the accused, as well as the cryptocurrency market as a whole.
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