This story is from April 18, 2024
ED attaches Juhu flat, other properties of Raj Kundra, wife Shilpa Shetty in Bitcoin scam case
MUMBAI: The Enforcement Directorate (ED) provisionally attached properties worth Rs 100 crore belonging to Ripu Sudan Kundra (Raj Kundra), husband of actor Shilpa Shetty, in a money laundering case connected to a Pune Bitcoin scam. The attached properties include a flat in Juhu in the name of Shilpa Shetty, a bungalow in Pune, and equity shares in the name of Kundra.
The ED initiated an investigation based on multiple FIRs registered by the police in Maharashtra and Delhi against Variable Tech Pte Ltd, Amit Bhardwaj (deceased), his brother Ajay Bhardwaj, and others.
It was believed that the accused had collected huge amounts of funds in the form of Bitcoins (worth Rs 6,600 crore) in 2017 from the gullible public with false promises of a 10% per month return in the form of Bitcoins. The collected Bitcoins were supposed to be utilized for Bitcoin mining, and investors were supposed to get huge returns in crypto assets.
However, the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets.
ED investigation revealed that Raj Kundra received 285 Bitcoins from the mastermind and promoter of the Gain Bitcoin Ponzi Scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine. The said Bitcoins were sourced from the proceeds of crime collected by Amit Bhardwaj from gullible investors. Since the deal didn’t materialize, Kundra is still in possession and enjoyment of 285 Bitcoins, which are presently valued at more than Rs 150 crore.
Earlier, multiple search operations were carried out in this case, and three persons were arrested, namely Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan. All of them are presently in judicial custody. The ED had filed a chargesheet against them. The main accused, Ajay Bhardwaj and Mahendra Bhardwaj, are still absconding. Previously, the ED had attached properties worth Rs 69 crore in the case.
Check West Bengal Madhyamik Result 2026 online at TOI
The ED initiated an investigation based on multiple FIRs registered by the police in Maharashtra and Delhi against Variable Tech Pte Ltd, Amit Bhardwaj (deceased), his brother Ajay Bhardwaj, and others.
It was believed that the accused had collected huge amounts of funds in the form of Bitcoins (worth Rs 6,600 crore) in 2017 from the gullible public with false promises of a 10% per month return in the form of Bitcoins. The collected Bitcoins were supposed to be utilized for Bitcoin mining, and investors were supposed to get huge returns in crypto assets.
However, the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets.
ED investigation revealed that Raj Kundra received 285 Bitcoins from the mastermind and promoter of the Gain Bitcoin Ponzi Scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine. The said Bitcoins were sourced from the proceeds of crime collected by Amit Bhardwaj from gullible investors. Since the deal didn’t materialize, Kundra is still in possession and enjoyment of 285 Bitcoins, which are presently valued at more than Rs 150 crore.
Earlier, multiple search operations were carried out in this case, and three persons were arrested, namely Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan. All of them are presently in judicial custody. The ED had filed a chargesheet against them. The main accused, Ajay Bhardwaj and Mahendra Bhardwaj, are still absconding. Previously, the ED had attached properties worth Rs 69 crore in the case.
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Check West Bengal Madhyamik Result 2026 online at TOI
end of article
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