Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development, a special court has summoned businessman Raj Kundra, 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, and the court has now asked him to appear before it on January 19.
The case against Kundra and others is related to a Ponzi scheme that allegedly duped several investors of their hard-earned money. The ED had filed a chargesheet against Kundra and Dubai-based businessman Rajesh Satija, accusing them of being involved in the scam. According to the ED, Kundra had invested in a company called Satija’s Long Finance, which was allegedly running a Ponzi scheme.
The ED’s investigation revealed that Kundra had purchased 285 Bitcoins through Satija’s company, which were worth over ₹150 crore at the time of purchase. The agency alleged that Kundra was aware of the Ponzi scheme and had still chosen to invest in it, making him a party to the scam. The ED also alleged that Kundra had failed to disclose his investments in the company to the authorities, which is a violation of the Prevention of Money Laundering Act (PMLA).
The court’s decision to summon Kundra is a significant development in the case, as it indicates that the ED has sufficient evidence to proceed against him. The court has also asked Satija to appear before it on January 19, along with Kundra. The two businessmen will have to appear before the court and respond to the charges levelled against them.
The Bitcoin scam case has been making headlines for several months now, with several high-profile individuals being accused of being involved in it. The ED has been investigating the case and has filed chargesheets against several individuals, including Kundra and Satija. The agency has also attached several properties and assets belonging to the accused individuals, including Kundra.
The case has also raised questions about the regulation of cryptocurrencies in India. The government has been considering regulating cryptocurrencies for several years now, but a clear framework is yet to be put in place. The lack of regulation has led to several scams and fraudulent activities, with the Bitcoin scam case being one of the most high-profile ones.
The ED’s investigation into the Bitcoin scam case is ongoing, and the agency is expected to file more chargesheets against other individuals accused of being involved in the scam. The court’s decision to summon Kundra and Satija is a significant development in the case, and it will be interesting to see how the case unfolds in the coming days.
In conclusion, the ₹150-crore Bitcoin scam case has taken a significant turn with the court summoning Raj Kundra and Rajesh Satija. The ED’s investigation has revealed that Kundra had invested in a company that was allegedly running a Ponzi scheme, and he has been accused of being aware of the scam. The court’s decision to summon Kundra and Satija is a significant development in the case, and it will be interesting to see how the case unfolds in the coming days.
The case has also highlighted the need for regulating cryptocurrencies in India. The lack of regulation has led to several scams and fraudulent activities, and it is high time that the government puts in place a clear framework to regulate cryptocurrencies. The Bitcoin scam case is a wake-up call for the government to take action and regulate cryptocurrencies to prevent such scams in the future.
The ED’s investigation into the Bitcoin scam case is ongoing, and the agency is expected to file more chargesheets against other individuals accused of being involved in the scam. The court’s decision to summon Kundra and Satija is a significant development in the case, and it will be interesting to see how the case unfolds in the coming days.
As the case continues to unfold, it will be interesting to see how the court proceeds against Kundra and Satija. The two businessmen will have to appear before the court and respond to the charges levelled against them. The case has significant implications for the regulation of cryptocurrencies in India, and it will be interesting to see how the government responds to the case.
In the meantime, the ED will continue to investigate the case and gather more evidence against the accused individuals. The agency will also continue to attach properties and assets belonging to the accused individuals, including Kundra. The Bitcoin scam case is a significant development in the world of cryptocurrencies, and it will be interesting to see how the case unfolds in the coming days.
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