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 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, which was uncovered in September 2025.
According to the ED, Kundra and Dubai-based businessman Rajesh Satija were involved in a cryptocurrency scam, where they allegedly duped investors of large sums of money. The scam, which was perpetuated through a Ponzi scheme, promised unusually high returns to investors, who were lured into investing in Bitcoin and other cryptocurrencies. However, the investments were never actually made, and the money was instead used to fund the lavish lifestyles of the accused.
The ED’s investigation into the scam revealed that Kundra had acquired 285 Bitcoins, which were valued at over ₹150 crore at the time. The agency alleged that Kundra had used the Bitcoins to launder money and had also used them to make investments in other businesses. The ED also accused Kundra of failing to disclose the source of the funds used to acquire the Bitcoins, which is a violation of the Prevention of Money Laundering Act (PMLA).
The special court, which is hearing the case, has now summoned Kundra and Satija to appear before it on January 19. The court’s decision to take cognizance of the chargesheet filed by the ED is a significant development in the case, as it indicates that the court believes that there is sufficient evidence to proceed with the prosecution of the accused.
The Bitcoin scam case has been making headlines for several months, with the ED conducting raids and arrests in connection with the case. The agency has also frozen several bank accounts and assets belonging to the accused, in an effort to prevent them from disposing of the proceeds of the crime.
The case has also raised questions about the regulation of cryptocurrencies in India, with many experts calling for greater oversight and regulation of the industry. The government has been considering introducing new regulations to govern the use of cryptocurrencies, but so far, no concrete steps have been taken.
In the meantime, Kundra and Satija will have to appear before the court on January 19, where they will be required to respond to the charges filed against them. The case is likely to be closely watched, given the high-profile nature of the accused and the large sums of money involved.
It is worth noting that Kundra has denied any wrongdoing in the case, and has maintained that he is innocent of the charges filed against him. However, the ED’s investigation and the court’s decision to take cognizance of the chargesheet suggest that there may be more to the case than meets the eye.
As the case progresses, it will be interesting to see how the court handles the complex issues involved in the Bitcoin scam case. The case has the potential to set important precedents for the regulation of cryptocurrencies in India, and could have significant implications for the industry as a whole.
In conclusion, the summons issued to Raj Kundra by the special court is a significant development in the ₹150-crore Bitcoin scam case. The case highlights the need for greater regulation and oversight of the cryptocurrency industry, and raises important questions about the use of cryptocurrencies for illicit activities. As the case progresses, it will be closely watched by experts and observers, who will be keen to see how the court handles the complex issues involved.
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