According to officials, the Directorate of Enforcement has provisionally attached properties worth Rs 97.79 crore belonging to Raj Kundra under the Prevention of Money Laundering Act, 2002. The attached properties comprise a residential flat in Juhu, a residential bungalow in Pune, and equity shares.
The Mumbai Zonal Office of the Directorate of Enforcement (ED) has provisionally attached immovable and movable properties valued at Rs 97.79 crore belonging to Ripu Sudan Kundra, also known as Raj Kundra, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The attached properties include a residential flat located in Juhu, currently registered in the name of Shilpa Shetty, a residential bungalow situated in Pune, and equity shares held by Raj Kundra,” stated the ED.
The Enforcement Directorate (ED) launched an investigation based on multiple FIRs filed by the Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and several MLM agents. Allegations suggest they amassed significant funds in Bitcoins, amounting to Rs 6600 crore in 2017 alone, from unsuspecting individuals with promises of a 10% monthly return in Bitcoins.
These collected Bitcoins were purportedly intended for Bitcoin mining, with investors anticipating substantial returns in crypto assets. However, the promoters deceived investors and concealed the illicitly obtained Bitcoins in obscure online wallets, according to the ED.
“The ED’s investigation uncovered that Raj Kundra received 285 Bitcoins from the orchestrator and promoter of the Gain Bitcoin Ponzi Scam, Amit Bhardwaj, to establish a Bitcoin mining farm in Ukraine. These Bitcoins were derived from the proceeds of crime collected by Amit Bhardwaj from trusting investors. As the deal did not materialize, Kundra retains possession and control of the 285 Bitcoins, currently valued at over Rs. 150 Crore,” stated the ED.
