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Kerala Kaumudi Online
Saturday, 18 May 2024 5.55 AM IST

Bitcoin scam; ED seizes properties worth Rs 100 crore of Shilpa Shetty's husband Raj Kundra

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NEW DELHI: The Enforcement Directorate has confiscated assets worth Rs 97.79 crore belonging to Bollywood actress Shilpa Shetty's husband and businessman Raj Kundra. The action is related to the Bitcoin Ponzi scam. The flat in Juhu, a bungalow in Pune and equity shares owned by Raj Kundra, which are currently registered in Shilpa's name, were also seized by the ED. But Raj Kundra and Shilpa say that they have no role in the corruption.

Raj Kundra and Shilpa Shetty's lawyer Prashant Patil clarified that no prima facie cases have been registered against them in connection with the scam. They believe that the investigating agency itself will give them justice when they come before the ED. The lawyer said that he believes in a fair investigation.

A Ponzi scheme is a scam that promises huge profits without investing money. Its main purpose is to get more people into cheating. In this way, after bringing people to the project without investing money, the first investors are given a profit.

ED had found that Amit Bharadwaj, the mastermind of the Gain Bitcoin Ponzi scam, had given 285 Bitcoins to Raj Kundra. The plan was to use these bitcoins to set up a bitcoin mining farm in Ukraine. But since the deal did not materialized, Kundra was in possession of more than 150 crore worth of bitcoins, the ED said. Raj Kundra was arrested in 2021 for making pornographic films. Later he got bail from the Supreme Court in this case.

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TAGS: BITCOIN, ED, SHILPA, SHETTY
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