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 it took cognizance of the chargesheet filed against Kundra by the Enforcement Directorate (ED). The ED had accused Kundra of possessing 285 Bitcoins, valued at over ₹150 crore, in a Ponzi scam case.
The case against Kundra and other accused, including Dubai-based businessman Rajesh Satija, is being heard by a special court under the Prevention of Money Laundering Act (PMLA). The court has asked Kundra and Satija to appear before it on January 19, marking a significant milestone in the investigation.
In September 2025, the ED had filed a chargesheet against Kundra, alleging that he had acquired the Bitcoins through a Ponzi scheme. The ED’s investigation had revealed that Kundra had invested in a company that was running a Bitcoin-based Ponzi scheme, promising unusually high returns to investors. The company had collected funds from numerous investors, totaling over ₹150 crore, and had used the money to purchase Bitcoins.
The ED’s chargesheet had also alleged that Kundra had failed to disclose the source of the funds used to purchase the Bitcoins, and had not reported the transactions to the authorities as required under the PMLA. The agency had also accused Kundra of attempting to conceal the true nature of the transactions and the source of the funds.
The summons issued by the court to Kundra and Satija is a significant step in the investigation, as it indicates that the court has found sufficient evidence to proceed with the case. The court’s decision to take cognizance of the chargesheet filed by the ED is also a significant development, as it suggests that the agency’s investigation has been thorough and has uncovered sufficient evidence to support the allegations against Kundra and the other accused.
The Bitcoin scam case has been making headlines for several months, with numerous investors coming forward to report that they had lost large sums of money in the scheme. The ED’s investigation has been ongoing, and the agency has been working to track down the accused and recover the losses suffered by the investors.
The case against Kundra and the other accused is being closely watched, as it has significant implications for the regulation of cryptocurrency transactions in India. The government has been grappling with the issue of how to regulate cryptocurrencies, and the case against Kundra and the other accused is likely to have a significant impact on the development of the regulatory framework.
In recent years, there have been numerous cases of cryptocurrency scams and Ponzi schemes in India, with many investors losing large sums of money. The government has been working to crack down on these schemes, and the ED’s investigation into the Bitcoin scam case is part of a broader effort to regulate the cryptocurrency market and protect investors.
The court’s decision to summon Kundra and Satija is a significant step in the investigation, and it is likely to have significant implications for the case. The appearance of the accused before the court on January 19 is likely to be a significant development, and it will be closely watched by the media and the public.
In conclusion, the summons issued by the court to Raj Kundra and Rajesh Satija in the ₹150-crore Bitcoin scam case is a significant development in the investigation. The ED’s chargesheet against Kundra and the other accused has alleged that they were involved in a Ponzi scheme, and the court’s decision to take cognizance of the chargesheet is a significant step in the case. The appearance of the accused before the court on January 19 is likely to be a significant development, and it will be closely watched by the media and the public.
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