Things are getting worse for businessman Raj Kundra. The Enforcement Directorate temporarily took control of his ₹97.79 crore worth of assets as part of its investigation into money laundering linked to the alleged ₹6,600 crore Bitcoin-based ponzi scheme run by the Singaporean company Variable Tech Private Limited. ED sources say he is thought to be getting money from the case’s spoils of crime.
Says The Report:
Now, in an exclusive interview with HT City, their lawyer Prashant Patil says, “We will follow the law and do what is required by the Prevention of Money Laundering Act to protect my clients’ freedom and property.” It doesn’t look like there is a case against my clients, Mr. Raj Kundra and Mrs. Shilpa Shetty Kundra. The Honorable Judiciary has our full trust. I think that when we make our case fairly to the Honorable Enforcement Directorate, even the investigation agencies might do the right thing and give us justice. There’s faith in the fair probe. We have promised to work with the officials whenever they ask us to.
Notes on Property
Attached are a residential flat in Juhu that is currently owned by actress Shilpa Shetty Kundra and his wife, as well as a residential bungalow in Pune and equity shares in his name.
The ED says that Variable Tech scammed investors across the country out of 80,000 bitcoins by offering high returns. The ED also says that funds worth 6,606 crore were stolen and used to buy properties in other countries through nine different firms.
About Raj and Shilpa
A businessman and former entrepreneur named Raj Kundra has been focused on projects that use blockchain technology and cryptocurrency. Shilpa Shetty, an actress and businesswoman, has been busy with her wellness businesses, such as exercise apps and yoga platforms, and different film projects. Both are still looking for chances in their own fields and are also involved in charitable work and social projects.