Raj Kundra summoned by court in ₹150-crore Bitcoin scam case
The world of cryptocurrency has been marred by scams and fraudulent activities, with many high-profile cases making headlines in recent years. One such case is the ₹150-crore Bitcoin scam, which has been making waves in the Indian business community. In a latest development, a special court has summoned businessman Raj Kundra, husband of Bollywood actress Shilpa Shetty, in connection with the case.
The Enforcement Directorate (ED) had filed a chargesheet against Kundra, accusing him of having 285 Bitcoins worth over ₹150 crore in a Ponzi scam case. The ED had been investigating the case for several months, and the chargesheet was filed in September 2025. According to the ED, Kundra and Dubai-based businessman Rajesh Satija were involved in a Ponzi scheme, where they lured investors into investing in Bitcoins with promises of high returns.
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. The court has summoned Kundra and Satija to appear before it on January 19, 2026. The summons is a significant development in the case, and it is likely that the court will begin hearing the case in detail from next month.
The ₹150-crore Bitcoin scam case is a complex one, involving multiple parties and transactions. According to the ED, Kundra and Satija had set up a company called Satyam Investments, which promised investors high returns on their investments in Bitcoins. However, the company was allegedly a front for a Ponzi scheme, where returns were paid to earlier investors using funds from newer investors. The scheme eventually collapsed, leaving many investors with significant losses.
The ED has accused Kundra and Satija of money laundering and other offenses under the PMLA. The agency has alleged that the two businessmen had used the funds raised from investors to purchase Bitcoins, which were then transferred to wallets in foreign countries. The ED has also alleged that Kundra and Satija had used the proceeds of the scam to fund their lavish lifestyles, including purchasing luxury cars and properties.
The case against Kundra and Satija is not the only one of its kind in India. There have been several cases of Bitcoin scams and Ponzi schemes in recent years, with many investors losing significant amounts of money. The cases have highlighted the risks associated with investing in cryptocurrencies, and the need for greater regulation and oversight in the sector.
The summons issued to Kundra and Satija is a significant development in the case, and it is likely that the court will begin hearing the case in detail from next month. The case is expected to be closely watched by the business community and the media, given the high-profile nature of the accused. The outcome of the case will also have significant implications for the cryptocurrency sector in India, and the measures that are taken to regulate and oversee it.
In conclusion, the ₹150-crore Bitcoin scam case is a complex and significant one, involving allegations of money laundering and other offenses. The summons issued to Raj Kundra and Rajesh Satija is a major development in the case, and it is likely that the court will begin hearing the case in detail from next month. The case highlights the risks associated with investing in cryptocurrencies, and the need for greater regulation and oversight in the sector.
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