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 move comes after it took cognisance of the chargesheet filed against Kundra by the Enforcement Directorate (ED). The ED had accused Kundra of possessing 285 Bitcoins, worth over ₹150 crore, in a Ponzi scam case. The court has asked Kundra, as well as Dubai-based businessman Rajesh Satija, to appear before it on January 19.
The case against Kundra and Satija is related to a Ponzi scheme, in which investors were allegedly lured into investing in a cryptocurrency scheme with promises of high returns. The ED had launched an investigation into the scam and had filed a chargesheet against Kundra and Satija, alleging that they were involved in the scam. The chargesheet alleged that Kundra had acquired 285 Bitcoins, worth over ₹150 crore, through the scam.
The ED had accused Kundra of having knowledge about the scam and of having benefited from it. The agency had also alleged that Kundra had failed to disclose the source of the Bitcoins in his possession. The ED had launched an investigation into the scam after receiving complaints from several investors who had lost money in the scheme.
The special court’s decision to summon Kundra and Satija is a significant development in the case. The court’s move indicates that it has found prima facie evidence against the two businessmen and wants to question them further. The court’s decision is also likely to put pressure on Kundra and Satija to cooperate with the investigation and to provide more information about their involvement in the scam.
The Bitcoin scam case is one of the several cases that Kundra has been embroiled in recent times. In 2021, Kundra was arrested by the Mumbai Police in connection with a case related to the production and distribution of pornographic content. Kundra was later granted bail in the case. The Bitcoin scam case, however, is a more serious one, and the ED’s allegations against Kundra are likely to have serious consequences for him.
The case against Kundra and Satija is also a reminder of the risks associated with investing in cryptocurrencies. The lack of regulation and oversight in the cryptocurrency market makes it vulnerable to scams and frauds. Investors need to be cautious and do their due diligence before investing in any cryptocurrency scheme.
The ED’s investigation into the Bitcoin scam case is ongoing, and the agency is likely to file more chargesheets against other accused in the case. The special 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 special court’s decision to summon Raj Kundra in the ₹150-crore Bitcoin scam case is a significant development in the case. The ED’s allegations against Kundra are serious, and the court’s move indicates that it has found prima facie evidence against him. The case is a reminder of the risks associated with investing in cryptocurrencies and the need for investors to be cautious and do their due diligence before investing in any scheme.
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