In a post, the Enforcement Directorate (ED) declared that it would seize assets worth Rs 97 crore belonging to Raj Kundra and Shilpa Shetty. The agency decided to temporarily seize Ripu Sudan Kundra, commonly known as Raj Kundra,’s moveable and immovable possessions in accordance with the Prevention of Money Laundering Act (PMLA), 2002, according to a statement released on Thursday afternoon.
What The Statement Says
According to the statement, “Following the PMLA, 2002, ED, Mumbai has provisionally attached immovable and movable properties worth Rs. 97.79 crore belonging to Ripu Sudan Kundra, aka Raj Kundra.” The properties that are attached are a residential apartment in Juhu that is now owned by Smt. Shilpa Shetty, a residential bungalow in Pune, and equity shares that are owned by Raj Kundra.”
One of the associated properties is a Juhu residential apartment that is presently registered in the name of Shilpa Shetty, the businessman’s actress wife. The attachment also contains equity interests registered in Raj Kundra’s name as well as a residential home located in Pune.
A Raj Kundra Bitcoin Mining Farm
The agency claims there have been allegations of collecting enormous sums of money from the ‘gullible public’ in the form of Bitcoins (worth Rs 6600 crore in 2017 alone) under the guise of ‘false promises of 10% per month return in the form of Bitcoins’.
The gathered Bitcoins were meant to be used for mining Bitcoin, and investors were expected to receive enormous returns on their cryptocurrency investments. However, the investors were duped by the promoters, who have been hiding the illegally obtained Bitcoins in secret online wallets,” the statement said.
The ED further stated that Raj Kundra established a bitcoin mining farm in Ukraine and received 285 bitcoins from Amit Bhardwaj, the mastermind and promoter of the Gain Bitcoin Ponzi Scam. The aforementioned Bitcoins came from criminal proceeds that Amit Bhardwaj obtained from naive investors.
“Since the deal didn’t materialize, Kundra is still in possession and enjoying 285 bitcoins, which are presently valued at more than Rs. 150 crore,” the Enforcement Director stated.
The Suspects
Before the arrest of Simpy Bhardwaj on December 17, 2023, Nitin Gaur on December 29, 2023, and Nikhil Mahajan on January 16, 2023, several search activities were carried out concerning this case. At present, all three of them are under judicial custody.
Ajay and Mahendra Bhardwaj, the primary suspects, are still at large.
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