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 move comes after taking cognizance 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.
The case against Kundra and others is related to a Bitcoin-based Ponzi scheme, where investors were lured into investing in a cryptocurrency scheme with promises of high returns. The scheme, which was allegedly operated by Kundra and his associates, is said to have duped thousands of investors of their hard-earned money. The ED, which is investigating the case, has alleged that Kundra and others used the invested funds to purchase Bitcoins, which were then transferred to foreign countries.
In September 2025, the ED had accused Kundra of having 285 Bitcoins worth over ₹150 crore in the Ponzi scam case. The agency had also accused Kundra of laundering money and violating the Foreign Exchange Management Act (FEMA). The ED’s investigation had revealed that Kundra had used the Bitcoins to transfer funds to foreign countries, which were then used to purchase properties and other assets.
The special court, which is hearing the case, has now summoned Kundra to appear before it on January 19. The court has also summoned Dubai-based businessman Rajesh Satija, who is also accused in the case. The summons were issued after the court took cognizance of the chargesheet filed by the ED against Kundra and Satija.
The chargesheet filed by the ED alleges that Kundra and Satija were involved in a conspiracy to cheat investors and launder money. The ED has also alleged that Kundra and Satija used the invested funds to purchase Bitcoins, which were then transferred to foreign countries. The agency has accused Kundra and Satija of violating the Prevention of Money Laundering Act (PMLA) and FEMA.
The case against Kundra and Satija is a significant one, as it highlights the risks associated with investing in cryptocurrency schemes. The case also highlights the need for stricter regulations and laws to govern the cryptocurrency market in India. The ED’s investigation and the court’s summons to Kundra and Satija are a step in the right direction, as they aim to bring to book those who have cheated investors and laundered money.
The Bitcoin scam case against Kundra and Satija is not the first case of its kind in India. There have been several cases of Bitcoin scams and Ponzi schemes in the country, where investors have been duped of their money. The cases have highlighted the need for investors to be cautious when investing in cryptocurrency schemes and to do their due diligence before investing.
The court’s summons to Kundra and Satija is a significant development in the case, as it brings the accused one step closer to facing justice. The case is likely to be closely watched by the media and the public, as it involves a high-profile businessman and a Bollywood actress. The outcome of the case will be eagerly awaited, as it will have significant implications for the cryptocurrency market in India.
In conclusion, the special court’s summons to Raj Kundra in the ₹150-crore Bitcoin scam case is a significant development in the case. The case highlights the risks associated with investing in cryptocurrency schemes and the need for stricter regulations and laws to govern the cryptocurrency market in India. The ED’s investigation and the court’s summons to Kundra and Satija are a step in the right direction, as they aim to bring to book those who have cheated investors and laundered money.
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