The latest developments surrounding Bollywood power couple Raj Kundra and Shilpa Shetty have thrust them into the spotlight once again, this time for their alleged involvement in a massive Bitcoin scam worth Rs 6,600 crore. As the Enforcement Directorate (ED) tightens its grip on the investigation, uncovering layers of deceit and financial malpractice, let’s delve into the intricate details of this sprawling scandal.
Raj Kundra’s Legal Turmoil:
Raj Kundra’s brush with legal troubles began in July 2021 when he was arrested by the Mumbai Police on charges related to the production and distribution of adult content. However, his entanglement with the law took a new turn as federal agencies turned their attention towards his alleged role in a Bitcoin Ponzi scheme, implicating him in a web of financial deceit and manipulation.
The Bitcoin Ponzi Scheme Unveiled:
At the heart of the scandal lies the nefarious Bitcoin Ponzi scheme orchestrated by the promoters of Gain Bitcoin, including Amit Bhardwaj, Ajay Bhardwaj, and others. Investors were lured into the scheme with promises of exorbitant returns, only to be duped out of billions of rupees. The scheme, which operated under the guise of a legitimate investment opportunity, siphoned off funds to line the pockets of its perpetrators while leaving a trail of financial ruin in its wake.
Raj Kundra’s Alleged Involvement:
According to ED allegations, Raj Kundra received a substantial sum of 285 Bitcoins from the mastermind behind the Ponzi scam, Amit Bhardwaj. These ill-gotten gains were purportedly intended for the establishment of a Bitcoin mining farm in Ukraine, further entangling Kundra in the web of deceit. Despite not being the primary accused, Kundra’s association with the scam has drawn significant scrutiny and legal repercussions.
Seizure of Assets and Legal Ramifications:
The ED’s probe into the Bitcoin scam has led to the attachment of assets worth Rs 98 crore, including properties such as a bungalow in Pune registered under Raj Kundra’s name and a residential flat in Mumbai’s Juhu area owned by Shilpa Shetty. The provisional attachment order issued under the Prevention of Money Laundering Act (PMLA) underscores the severity of the allegations and the ongoing pursuit of justice by law enforcement agencies.
As the investigation into the Rs 6,600 crore Bitcoin scam unfolds, the spotlight remains firmly fixed on Raj Kundra and Shilpa Shetty, whose involvement has cast a shadow over their reputations and careers. However, they are yet to react to the new development.
