ED Seizes Assets Worth ₹97.79 Crore from Raj Kundra in Bitcoin Ponzi Scam Probe
The Enforcement Directorate (ED) has recently seized properties valued at ₹97.79 Crore connected to Raj Kundra, husband of actress Shilpa Shetty, in connection with an investigation into a Bitcoin Ponzi scheme. The probe targets multiple accused linked to Variable Tech Private Limited and late Amit Bhardwaj, among others. Allegations suggest that these individuals collectively duped investors of approximately ₹6,600 Crore in Bitcoins by promising hefty monthly returns of 10% on Bitcoin investments in 2017.
Investigations revealed that Raj Kundra received 285 Bitcoins from Amit Bhardwaj, the alleged mastermind behind the fraudulent Gain Bitcoin scheme. These Bitcoins, now worth over ₹150 Crore, were initially meant for setting up a Bitcoin mining operation in Ukraine, a venture that ultimately failed. As a result, Kundra retained possession of these substantial digital assets.
Among the confiscated properties are a residential flat in Juhu registered under Shilpa Shetty’s name, a bungalow in Pune, and several equity shares owned by Raj Kundra. The probe continues as the ED aims to uncover further details and secure the stolen assets for restitution to the defrauded investors.
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