“ED Seizes Shilpa Shetty and Raj Kundra’s Properties Worth Almost Rs 98 Crore in Money Laundering Probe”

Image Source:- The Times Of India

The Enforcement Directorate (ED) in Mumbai has taken a significant step in their ongoing investigation by attaching both immovable and movable properties valued at approximately Rs. 97.79 Crore, which belong to Raj Kundra, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

These seized assets notably include a residential flat located in Juhu, currently registered in the name of prominent actor Shilpa Shetty, alongside a bungalow situated in Pune and equity shares held by Raj Kundra. The agency’s probe suggests that these properties, acquired by Kundra, are pivotal in a cryptocurrency case under ED scrutiny.

The case originates from First Information Reports (FIRs) filed by both the Maharashtra Police and Delhi Police against a company known as Variable Tech Pte Ltd, along with individuals including the late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and several agents.

Allegations suggest that this group amassed substantial funds, approximately Rs. 6,600 crore worth of Bitcoins in 2017, from unsuspecting investors, promising an implausible 10% monthly return in Bitcoins.

The ED contends that the promoters duped investors and have since concealed the acquired Bitcoins in obscure online wallets. Raj Kundra, according to ED findings, received 285 Bitcoins from Amit Bhardwaj, identified as the mastermind and promoter of the Gain Bitcoin Ponzi scheme, to establish a Bitcoin mining farm in Ukraine.

The ED asserts that Kundra remains in possession of these 285 Bitcoins, currently valued at over Rs. 150 crore.