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 it took cognizance of the chargesheet filed by the Enforcement Directorate (ED) against Kundra. The ED had accused Kundra of possessing 285 Bitcoins, valued at over ₹150 crore, in a Ponzi scam case. The court has asked Kundra, as well as Dubai-based businessman Rajesh Satija, to appear before it on January 19.
The ED had filed the chargesheet against Kundra in September 2025, alleging that he was involved in a Ponzi scheme that duped investors of their hard-earned money. The scheme, which promised unusually high returns to investors, was found to be a fraudulent operation that used Bitcoin as a medium of transaction. The ED’s investigation revealed that Kundra had acquired 285 Bitcoins, worth over ₹150 crore, through this scheme.
The court’s decision to summon Kundra is a significant step in the investigation of the Bitcoin scam case. The ED had been investigating the case for several months and had gathered evidence against Kundra and other accused individuals. The chargesheet filed by the ED provides a detailed account of the alleged wrongdoing by Kundra and others involved in the scam.
The Bitcoin scam case has been making headlines for several months, with many investors coming forward to report that they had been duped by the scheme. The ED’s investigation has revealed that the scam was a sophisticated operation that used social media and other online platforms to lure investors. The scammers promised unusually high returns to investors, claiming that their investments would be used to trade in Bitcoin and other cryptocurrencies.
However, the investigation has revealed that the scammers had no intention of investing the money in Bitcoin or any other cryptocurrency. Instead, they used the money to fund their own lavish lifestyles and to pay off earlier investors in a classic Ponzi scheme. The ED’s chargesheet alleges that Kundra was aware of the scam and had actively participated in it, using his influence and connections to lure investors into the scheme.
The summoning of Kundra by the court is a significant development in the case, and it is likely to have far-reaching implications for the businessman and his associates. The ED’s investigation has already revealed that several other individuals, including Satija, were involved in the scam. The court’s decision to summon Kundra and Satija is likely to lead to further revelations about the scam and the individuals involved in it.
The Bitcoin scam case has also raised questions about the regulation of cryptocurrencies in India. The government has been grappling with the issue of how to regulate cryptocurrencies, with some officials calling for a complete ban on their use. However, others have argued that cryptocurrencies have the potential to be a valuable tool for financial inclusion and economic growth.
The ED’s investigation into the Bitcoin scam case has highlighted the need for greater regulation and oversight of the cryptocurrency market in India. The case has also underscored the importance of investor education and awareness, particularly when it comes to investments in cryptocurrencies. Investors need to be cautious and do their due diligence before investing in any scheme, particularly those that promise unusually high returns.
In conclusion, the summoning of Raj Kundra by the court in the ₹150-crore Bitcoin scam case is a significant development that is likely to have far-reaching implications for the businessman and his associates. The ED’s investigation has revealed that Kundra was involved in a sophisticated Ponzi scheme that duped investors of their hard-earned money. The case has also raised questions about the regulation of cryptocurrencies in India and the need for greater investor education and awareness.
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