Shilpa Shetty-Raj Kundra’s ₹97 Crore Assets Seized: Mumbai Flat, Pune Bungalow Involved in Money Laundering Case

The Enforcement Directorate (ED) has seized assets worth Rs. 98 crore belonging to Shilpa Shetty and her husband Raj Kundra, which include Shilpa Shetty’s Juhu flat and bungalow as well as equity shares registered in the name of Raj Kundra. This case is related to the 2002 Bitcoin Ponzi scheme fraud with money laundering. The ED has provided this information through a post on Twitter.

Investigation Initiated Based on Various FIRs Against Variable Tech Pvt Ltd and Alleged Kingpin Amit Bharadwaj

The Enforcement Directorate initiated an investigation based on numerous FIRs registered by the Maharashtra Police and Delhi Police against Variable Tech Pvt Ltd and alleged mastermind Amit Bharadwaj, Ajay Bharadwaj, Vivek Bharadwaj, Simpy Bharadwaj, Mahendra Bharadwaj, and others.

Allegations Regarding Bitcoin Ponzi Scheme

The investigation agency alleges that the accused promised people returns of up to 10% per month with false promises and collected bitcoins (valued at Rs. 6,600 crores in 2017 alone) in significant amounts from the public. These bitcoins were supposed to be invested in bitcoin mining, but the promoters siphoned off funds and concealed the received bitcoins in online wallets illegally.

Failed Deal and Alleged Profits Not Delivered to Investors

The deal failed, and investors did not receive the promised returns. It is claimed that Raj Kundra received 285 bitcoins from Amit Bharadwaj, the mastermind of the Bitcoin Ponzi scheme, which are currently valued at over Rs. 150 crores. The first complaint in this case was lodged on June 11, 2019, and the supplementary complaint was filed on February 14, 2024. Following this, special action was taken against them by the PMLA court. Earlier, the ED had frozen assets worth Rs. 69 crores.

Raj Kundra Sentenced in Pornography Case

Raj was arrested in July 2021 for allegedly producing and uploading obscene films on mobile apps. He was granted bail nearly two months later, and in 2022, he appealed to the CBI regarding his innocence. During the past year, Raj, through the film “UT 69,” narrated his entire story of allegations to the public, spending two months in jail.

Niyati Rao

Niyati Rao is a seasoned writer and avid consumer who specializes in crafting informative and engaging articles and product reviews. With a passion for research and a knack for finding the best deals, Niyati enjoys helping readers make informed decisions about their purchases.