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, after taking cognizance of the chargesheet filed against him by the Enforcement Directorate (ED). The ED had accused Kundra of being involved in a ₹150-crore Bitcoin scam, and the court has now asked him to appear before it on January 19.
The case dates back to September 2025, when the ED accused Kundra of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case. The agency had alleged that Kundra, along with Dubai-based businessman Rajesh Satija, was involved in the scam, which had duped several investors of their hard-earned money. The ED had filed a chargesheet against Kundra and Satija, detailing the allegations against them and the evidence gathered during the investigation.
The special court, which is hearing the case under the Prevention of Money Laundering Act (PMLA), has taken cognizance of the chargesheet filed by the ED. This means that the court has accepted the chargesheet and has found sufficient evidence to proceed with the case against Kundra and Satija. The court has now summoned both Kundra and Satija to appear before it on January 19, where they will be required to respond to the allegations made against them.
The Bitcoin scam case, in which Kundra is accused, is a complex one. The ED had alleged that the scam was run by a company called Longfin Corporation, which had promised investors high returns on their investments in Bitcoin. However, the company had turned out to be a Ponzi scheme, where the returns paid to earlier investors were funded by the investments made by later investors. The ED had alleged that Kundra and Satija were involved in the scam, and had made significant profits from it.
The ED had launched an investigation into the scam after receiving several complaints from investors who had lost their money. The agency had conducted raids on several locations, including the offices of Longfin Corporation, and had seized several documents and electronic devices. The ED had also questioned several people, including Kundra and Satija, in connection with the case.
The summons issued by the court to Kundra and Satija is a significant development in the case. It indicates that the court has found sufficient evidence to proceed with the case against them, and that they will now have to respond to the allegations made against them. The case is likely to be closely watched, given the high-profile nature of the accused and the complexity of the allegations made against them.
The Bitcoin scam case has highlighted the risks associated with investing in cryptocurrencies. While Bitcoin and other cryptocurrencies have gained popularity in recent years, they are still largely unregulated and can be vulnerable to scams and other forms of fraud. The case has also highlighted the need for investors to be cautious when investing in cryptocurrencies, and to do their due diligence before making any investments.
In conclusion, the summons issued by the court to Raj Kundra in the ₹150-crore Bitcoin scam case is a significant development. The case has highlighted the risks associated with investing in cryptocurrencies, and the need for investors to be cautious when making any investments. The case is likely to be closely watched, and it will be interesting to see how it unfolds in the coming days.
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