ED attaches houses, equity shares worth Rs 98 crore of Shilpa Shetty & Raj Kundra
New Delhi: The Enforcement Directorate (ED) announced on Thursday the seizure of properties and shares valued at approximately Rs 98 crore belonging to actress Shilpa Shetty and her spouse Raj Kundra. The action is part of an investigation into a money-laundering case connected to an alleged cryptocurrency Ponzi scheme.
Under the Prevention of Money Laundering Act (PMLA), the ED has provisionally attached a flat and a bungalow owned by the couple, along with equity shares held by Kundra. The properties in question are a residential flat in Mumbai’s Juhu area, registered under Shetty’s name, a bungalow located in Pune, and equity shares attributed to Kundra.
The total value of the attached assets is reported to be Rs 97.79 crore. The couple’s legal representative has stated that there is no substantial case against them and assured their cooperation with the investigative authorities.
Originating from FIRs filed by the Maharashtra and Delhi Police, the case involves Variable Tech Private Limited and several individuals, including the late Amit Bhardwaj and others. They are accused of amassing substantial funds, approximately Rs 6,600 crore in 2017, from investors under the guise of a 10 per cent monthly Bitcoin return.
The ED alleges that the collected Bitcoins were intended for mining operations, promising significant returns to investors. However, the promoters are accus
ed of defrauding the investors and hiding the misappropriated Bitcoins in undisclosed online wallets.
According to the ED, Kundra received 285 Bitcoins from Amit Bhardwaj, the alleged architect of the Gain Bitcoin Ponzi scheme, for the purpose of establishing a Bitcoin mining operation in Ukraine.
These Bitcoins are believed to be derived from the fraudulent scheme’s proceeds.
Kundra reportedly retains possession of the 285 Bitcoins, now valued at over Rs 150 crore, as the intended mining project did not come to fruition.
The couple’s attorney has expressed confidence in the legal system and intends to engage with the Enforcement Directorate to seek justice. They plan to adhere to the legal process and take the necessary actions under the PMLA to safeguard their rights and properties.
Last year, the ED arrested Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan in relation to the case, and they remain in judicial custody. Ajay Bhardwaj and Mahender Bhardwaj, the primary suspects, are currently fugitives.
To date, the ED has attached properties worth Rs 69 crore and filed two chargesheets in the ongoing investigation, with the first submitted in June 2019 and the second in February of this year..
