Raj Kundra Summoned as ED Uncovers INR 150 Cr Bitcoin Scam

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AuthorIshaan Verma|Published at:
Raj Kundra Summoned as ED Uncovers INR 150 Cr Bitcoin Scam
Overview

Businessman Raj Kundra has been summoned by a Mumbai PMLA court after the Enforcement Directorate (ED) filed a chargesheet in the GainBitcoin scam. ED alleges Kundra was the beneficial owner, holding 285 Bitcoins valued over INR 150 Cr. Properties worth INR 97.79 Cr were previously attached. The scam potentially impacted around 8,000 victims.

Businessman and actor Shilpa Shetty's husband, Raj Kundra, faces a summons from a special Prevention of Money Laundering Act (PMLA) court in Mumbai. The court issued the order following a chargesheet filed by the Enforcement Directorate (ED) in the GainBitcoin cryptocurrency scam. Dubai-based businessman Rajesh Satija was also summoned to appear on January 19.

ED Alleges Beneficial Ownership

The ED's chargesheet, filed in September 2025, alleges that Kundra's role in the GainBitcoin scam was more than that of a mere mediator, identifying him as the beneficial owner of the illicit proceeds. The agency claims Kundra received 285 Bitcoins from Amit Bhardwaj, the scam's mastermind who passed away in 2022. These Bitcoins were intended for setting up a Bitcoin mining farm in Ukraine.

Crypto Assets and Attached Properties

Although the Ukraine deal did not materialize, Kundra is alleged to still possess these Bitcoins, valued at over INR 150 crore. The ED stated Kundra did not cooperate regarding the wallet addresses for the Bitcoin transfers. The agency previously attached properties in April 2024, including a Mumbai residential flat in Shilpa Shetty's name, a Pune bungalow, and equity shares in Kundra's name, collectively worth INR 97.79 crore in connection with the scam.

Scam's Wider Reach

Further assets valued at more than INR 10.63 crore, including commercial properties in Dubai owned by Amit Bhardwaj, were also attached as part of the money laundering probe. The GainBitcoin scam came to light after complaints against Variable Tech Pte Ltd and its promoters. The ED estimates the number of victims in the GainBitcoin scam to be around 8,000.

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