Raj Kundra, the well-known businessman and spouse of Bollywood actor Shilpa Shetty, has once again made headlines due to his alleged involvement in a significant investment fraud case linked to Bitcoin. This article delves into the intricate details of the case, shedding light on the Ponzi scheme orchestrated by Gain Bitcoin and the subsequent investigations led by enforcement agencies.
Also read: Salman Khan’s Home Shooting & Lawrence Bishnoi Connection!
Overview of the Bitcoin Ponzi Scam:
The Bitcoin Ponzi scheme, spearheaded by Gain Bitcoin promoters Ajay and Mahender Bhardwaj, enticed investors with promises of hefty returns in the form of bitcoins. Investors were lured in with the assurance of a 10 per cent monthly return on their investments. However, the scheme eventually unraveled, leaving investors in distress as they realized they had been deceived.
Key Players in the Scam:
The FIRs filed by both Maharashtra and Delhi police implicated several individuals associated with the scheme, including the promoters of Variable Tech Pte Ltd – Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, and Mahender Bhardwaj. These individuals allegedly amassed a staggering ₹6,600 crore from unsuspecting investors, only to squander the funds on Bitcoin investments and conceal them in obscure online wallets.
Raj Kundra’s Alleged Involvement:
While not the main accused in the case, Raj Kundra’s name surfaced in connection with the Bitcoin Ponzi scam. The Enforcement Directorate alleges that Kundra received 285 Bitcoins from Amit Bhardwaj, the mastermind behind Gain Bitcoin, for the establishment of a Bitcoin mining farm in Ukraine. Presently, Kundra is purportedly in possession of these Bitcoins, valued at over ₹150 crore.
Also read: Ranbir Kapoor’s New Bentley Continental: Worth ₹8 Crores!
Seizure of Assets:
In a significant development, the Enforcement Directorate has seized assets worth ₹97.79 crore, including a residential flat in Mumbai’s Juhu area registered under Shilpa Shetty’s name and a bungalow in Pune owned by Raj Kundra. Additionally, equity shares linked to Kundra have also been attached as part of the ongoing money laundering investigation under the Prevention of Money Laundering Act (PMLA).
