The Enforcement Directorate (ED) has taken action against the properties of Raj Kundra, husband of Bollywood actress Shilpa Shetty, in a significant development linked to a Bitcoin ponzi scheme investigation.
Under the provisions of the Prevention of Money Laundering Act (PMLA) 2002, ED has attached properties worth a staggering Rs 97.79 crore, including a Juhu flat in the name of Shilpa Shetty.
These measures come following multiple FIRs filed by the Maharashtra Police and Delhi Police against various accused entities such as Variable Tech Private Limited and individuals like late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, and Mahender Bhardwaj.
Allegations point towards the illicit accumulation of funds amounting to Rs 6,600 crore in the form of Bitcoin back in 2017, where promises of 10% monthly returns were made to investors.
The ED has also seized a bungalow in Pune and equity shares owned by Raj Kundra as part of their investigation.
A significant aspect of the probe is the transfer of 285 Bitcoin from Amit Bhardwaj to Raj Kundra for establishing a Bitcoin mining farm in Ukraine, with the cryptocurrency assets now valued at Rs 150 crore, believed to be proceeds of crime.
Currently, the main accused individuals, Ajay Bhardwaj and Mahender Bhardwaj, are at large, while arrests have been made, including that of Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan, who are in judicial custody.
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