ED Seizes Raj Kundra's Assets Worth Rs 97.79Cr In Bitcoin Investment Fraud Case
ED launched an investigation based on FIRs filed by Maharashtra Police & Delhi Police
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The Enforcement Directorate on Thursday, 18 April, attached immovable and movable properties worth Rs 97.79 crore belonging to businessman Raj Kundra under the Prevention of Money Laundering Act (PMLA). The official X handle of ED also confirmed the same.
The attached properties include a residential flat in Juhu which is registered in Shilpa Shetty’s name, a residential bungalow situated in Pune and equity shares in the name of Raj Kundra.
An investigation was launched by the ED based on a number of First Information Reports (FIRs) filed by both the Maharashtra Police and the Delhi Police against Variable Tech Pte Ltd and various MLM agents.
"It has been alleged that they collected huge amounts of funds in the form of Bitcoins (Rs 6600 crore in 2017 itself) from the public with false promises of 10% per month return in the form of Bitcoins," the ED said, as quoted by Livemint.
The investigation further revealed that "Raj Kundra received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin Ponzi Scam Amit Bhardwaj for setting up a Bitcoin mining farm in Ukraine".
In an official release the ED said, "Since the deal did not materialise, Kundra is still in possession of the 285 Bitcoins that are presently valued at more than Rs 150 crore."
The ED also informed that the main accused, Ajay and Mahendra Bhardwaj, are still absconding.
(With inputs from Livemint)
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