Amidst ongoing legal scrutiny, reports have emerged surrounding businessman Raj Kundra’s purported sale of his Rs 80 crore Juhu flat to his wife, actor Shilpa Shetty, for Rs 38 crore. This transaction, speculated to be an internal arrangement, allegedly aimed to evade potential attachment of the property by the Enforcement Directorate (ED), which had initiated a probe against Kundra in a money laundering case.
The ED suspects it was an internal arrangement of the couple to avoid the property’s attachment and it believes that Kundra is still the flat’s real owner, said sources.
The ED’s investigation centers on allegations of defrauding investors through the use of cryptocurrency, notably Bitcoins. According to the agency, Kundra received 285 Bitcoins from Amit Bhardwaj, the alleged “mastermind” behind the Gain Bitcoin Ponzi scheme, to establish a Bitcoin mining farm in Ukraine.
The properties under scrutiny encompass Kundra’s residential flat in Mumbai’s affluent Juhu neighborhood, a bungalow in Pune, and equity shares, collectively valued at Rs 97.79 crore. Despite these developments, a lawyer representing the couple has emphasized the absence of a prima facie case against them. He expressed confidence in the judicial process and reiterated their willingness to cooperate with the authorities.
In response to the ED’s revelations, Kundra shared a cryptic message on his Instagram stories, alluding to the challenges he faces. The post, featuring a poignant quote, reflects a determination to confront adversities head-on.
The ED believe that the bitcoins are still in Kundra’s possession but since he is not disclosing it, the agency is attaching his properties whose value is equivalent to that of the bitcoins. The ED is inquiring about Kundra’s other properties after attaching his bungalow in Pune, along with equity shares in his name and Shetty’s Juhu flat, collectively worth Rs 97.8 crore. The couple is yet to comment on the new development.
