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 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, which was uncovered in September 2025.
According to the ED, Kundra and Dubai-based businessman Rajesh Satija were involved in a complex web of transactions that involved the use of Bitcoins to launder money. The agency alleged that Kundra had acquired the Bitcoins through a series of transactions, which were later used to invest in a Ponzi scheme. The ED also claimed 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 court has asked Kundra and Satija to appear before it on January 19, 2026, to respond to the charges levelled against them. The summons marks a significant escalation in the case, which has been ongoing for several months. The ED had filed a chargesheet against Kundra and Satija in September 2025, alleging that they had conspired to commit a series of financial crimes, including money laundering and fraud.
The Bitcoin scam case has sent shockwaves through the financial community, with many investors losing large sums of money. The ED has been investigating the case for several months, and has already frozen several bank accounts and assets linked to Kundra and Satija. The agency has also seized several documents and electronic devices, which are being analysed to determine the extent of the scam.
The use of Bitcoins in the scam has raised concerns about the lack of regulation in the cryptocurrency market. Bitcoins are a type of digital currency that can be used to make transactions online, but they are not regulated by any central authority. This has made it difficult for law enforcement agencies to track the flow of funds and identify the individuals involved in the scam.
The ED has been working to crack down on the use of Bitcoins in financial crimes, and has been monitoring transactions involving the cryptocurrency. The agency has also been working with other law enforcement agencies, including the Income Tax Department and the Reserve Bank of India, to identify and prosecute individuals involved in Bitcoin-related scams.
The summoning of Raj Kundra by the court marks a significant development in the case, and is likely to have far-reaching consequences for the businessman. Kundra has been a prominent figure in the business community, and has been involved in several high-profile ventures, including a chain of gyms and a production company. The allegations against him have raised questions about his business dealings and have damaged his reputation.
The case is also likely to have implications for the wider business community, particularly in the cryptocurrency market. The use of Bitcoins in financial crimes has raised concerns about the lack of regulation in the market, and has highlighted the need for greater oversight and monitoring. The ED’s investigation into the Bitcoin scam case is likely to lead to greater scrutiny of the cryptocurrency market, and may lead to changes in the way that Bitcoins are regulated and monitored.
In conclusion, the summoning of Raj Kundra by the court in the ₹150-crore Bitcoin scam case marks a significant development in the investigation. The allegations against Kundra are serious, and have raised questions about his business dealings and reputation. The case is likely to have far-reaching consequences for Kundra, as well as the wider business community, particularly in the cryptocurrency market. As the investigation continues, it is likely that more details will emerge about the scam, and the individuals involved.
For more information on this case, please visit: https://www.moneycontrol.com/news/business/bitcoin-scam-pmla-court-takes-cognizance-of-ed-chargesheet-against-shilpa-shetty-husband-raj-kundra-issues-summons-13757948.html/amp
About the Author
