ED attaches Raj Kundra’s properties worth Rs 98 cr, Juhu flat in the name of Shilpa Shetty

The Enforcement Directorate (ED) has attached properties worth Rs 97.79 crore of Shilpa Shetty’s husband Raj Kundra under the provisions of Prevention of Money Laundering Act PMLA 2002. The agency, among the seized properties, has also attached the Juhu flat that is in the name of the actress, as well as shares and others, in connection with a Bitcoin ponzi scam of nearly Rs 7,000 crore.

The ED has attached properties including a bungalow situated in Pune and equity shares in the name of Raj Kundra. 

Following multiple FIRs registered by the Maharashtra Police and Delhi Police against one Variable Tech Private Limited and other accused including against late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, and Mahender Bhardwaj, the agency initiated an investigation. 

The aforementioned individuals have been accused of amassing large amounts of funds in the form of Bitcoin worth Rs 6,600 crore in 2017, under false promises of 10 per cent monthly returns. The collected Bitcoin were supposed to be used for Bitcoin mining and the investors were supposed to get huge returns in cryptocurrency assets. 

However, the promoters have been accused of cheating the investors and concealing the ill-gotten Bitcoin in obscure online wallets. 

According to the ED, Kundra received 285 Bitcoin from Amit Bhardwaj, alleged to be behind the ponzi scheme, for establishing a Bitcoin mining farm in Ukraine. These cryptocurrency assets currently are valued at Rs 150 crore, and were obtained from proceeds of crime, collected by Bhardwaj from unsuspecting investors. 

As per the agency, since the deal didn’t go through, Kundra is said to still possess the Bitcoin. 

Meanwhile, Simpy Bhardwaj was arrested on December 17, 2023, one Nitin Gaur on December 29, 2023 and Nikhil Mahajan on January 16, 2023 – all of them are currently in judicial custody. 

However, the main accused, Ajay Bhardwaj and Mahendra Bhardwaj, remain at large.