Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
In a significant development in the ₹150-crore Bitcoin scam case, a special court has summoned businessman Raj Kundra, the husband of Bollywood actress Shilpa Shetty, to appear before it on January 19. This move comes after the court took cognizance 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, which was uncovered in September 2025.
The chargesheet filed by the ED alleged that Kundra, along with Dubai-based businessman Rajesh Satija, was involved in a Ponzi scheme that duped numerous investors of their hard-earned money. The scam, which was perpetrated through a cryptocurrency trading platform, promised unusually high returns to investors, who were lured into investing large sums of money. However, the platform turned out to be a Ponzi scheme, where returns were paid to earlier investors using the money invested by later investors.
The ED’s investigation revealed that Kundra had acquired 285 Bitcoins, worth over ₹150 crore, through this Ponzi scheme. The agency alleged that Kundra had used his connections with Satija, who was the mastermind behind the scam, to acquire the Bitcoins. The ED also alleged that Kundra had failed 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 taken cognizance of the chargesheet filed by the ED and has issued summons to Kundra and Satija to appear before it on January 19. The court’s move is a significant development in the case, as it indicates that the prosecution has sufficient evidence to proceed against Kundra and Satija.
The Bitcoin scam case has been making headlines for several months, with the ED conducting raids and arrests in connection with the case. The scam is believed to have duped thousands of investors of their money, with the total amount involved running into hundreds of crores. The ED’s investigation has revealed that the scam was perpetrated by a group of individuals, who used social media and other online platforms to lure investors into the scheme.
The case against Kundra is significant, as it involves a high-profile individual who is well-known in the business and entertainment circles. Kundra’s wife, Shilpa Shetty, is a popular Bollywood actress, and the couple has been in the news for their business ventures and philanthropic activities. The fact that Kundra has been summoned by the court in connection with the Bitcoin scam case is likely to attract a lot of attention, as it involves a well-known personality.
The ED’s investigation into the Bitcoin scam case is ongoing, and the agency is expected to file more chargesheets in the coming days. The case is a reminder of the risks involved in investing in cryptocurrency, which is a highly volatile and unregulated market. The ED’s crackdown on the scam is a welcome move, as it will help to protect investors and prevent such scams from being perpetrated in the future.
In conclusion, the summoning of Raj Kundra by the special court in the ₹150-crore Bitcoin scam case is a significant development in the investigation. The ED’s chargesheet against Kundra and Satija alleges that they were involved in a Ponzi scheme that duped numerous investors of their money. The case is a reminder of the risks involved in investing in cryptocurrency and the need for regulatory oversight to prevent such scams from being perpetrated. As the investigation continues, it will be interesting to see how the case unfolds and what action is taken against those involved.
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