Raj Kundra and Shilpa Shetty, a high-profile Bollywood couple, have recently been linked to a Bitcoin Ponzi scheme worth Rs 6600 crore. This news has rocked the entertainment world and sparked speculation about the couple’s possible role in the purported fraud.
The Allegations
The couple’s names came to light in connection with a Bitcoin scam that allegedly duped investors of Rs 6600 crore. The fraud involved a Ponzi scheme where the perpetrators promised investors high returns on their Bitcoin investments.
In a declaration made public on Thursday afternoon, the Enforcement Directorate (ED) said that they had attached a home and an apartment belonging to Kundra and Shetty, valued at around Rs 97.79 crore, in addition to equity shares, concerning a money-laundering case involving the purported Ponzi scheme using crypto assets.
ED, Mumbai has provisionally attached immovable and movable properties worth Rs. 97.79 Crore belonging to Ripu Sudan Kundra aka Raj Kundra under the provisions of PMLA, 2002. The attached properties include Residential flat situated in Juhu presently in the name of Smt. Shilpa…
— ED (@dir_ed) April 18, 2024
After investigating a case involving the suspected use of cryptocurrencies to deceive investors, the federal agency has issued a temporary order under the Prevention of Money Laundering Act (PMLA) to attach the couple’s possessions.
The ED claims that Kundra allegedly got 285 Bitcoins from Amit Bhardwaj, the scam’s mastermind, to set up a Bitcoin mining farm in Ukraine. The rumor suggests that Kundra still possesses these Bitcoins, which experts estimate are worth over Rs 150 crore, even though the sale didn’t go through.
The Couple’s Response
Responding to the allegations, Raj Kundra, a successful businessman and Shilpa Shetty’s husband, posted a cryptic message on his social media account. The post did not directly address the allegations but hinted at the ongoing controversy.
“Learning to stay calm when you feel disrespected is a different type of growth.”
Prashant Patil, Kundra’s attorney, released a statement in response to the accusations, stating,
“We shall follow the due process of law and take necessary steps as prescribed under the Prevention of Money Laundering Act to protect the liberty and property of my clients. On the face of it, no prima facie case was made against my clients, Mr. Raj Kundra and Mrs. Shilpa Shetty Kundra.
We have complete faith in the Honourable Judiciary. I believe that when we make our fair representation before the Honourable Enforcement Directorate, even the investigation agencies may grant justice to us. We have faith in a fair investigation. We stand committed to cooperating with the authorities as and when required.”
Legal Proceedings
It’s uncertain if anyone has initiated legal proceedings against the couple regarding the alleged Bitcoin scam. The news media has subjected the couple to intense scrutiny, and we have yet to see how the situation unfolds.