In a significant development, the Enforcement Directorate (ED) has seized assets totaling Rs 98 crore belonging to Bollywood star Shilpa Shetty and her entrepreneur husband Raj Kundra. This action comes as part of a thorough investigation into alleged money laundering activities linked to a cryptocurrency scam.
The ED’s probe revolves around a case of duping investors using Bitcoins. It originated from complaints filed by both Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, along with individuals associated with the company. These complaints alleged that funds, amounting to a staggering Rs 6,600 crore in 2017, were amassed deceitfully from unsuspecting investors, promising exorbitant returns of 10% per month in Bitcoins.
According to ED statements, the accused promoters, including Amit Bhardwaj and others, purportedly concealed ill-gotten gains in obscure online wallets. Raj Kundra, specifically, is alleged to have received 285 Bitcoins from the mastermind behind the Gain Bitcoin Ponzi scheme, Amit Bhardwaj. These funds were purportedly directed towards establishing a Bitcoin mining farm in Ukraine.
The ED’s provisional attachment order encompasses a wide array of assets. These include a luxurious bungalow in Pune, a residential flat in Mumbai’s upscale Juhu area under Shilpa Shetty’s name, and equity shares owned by Raj Kundra. The total worth of these assets stands at an eye-watering Rs 97.79 crore, as per the agency’s estimations.
The promoters cheated the investors and have been concealing the ill gotten Bitcoins in obscure online wallets, the ED alleged.
Kundra, it claimed, received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin Ponzi scam Amit Bhardwaj for setting up Bitcoin mining farm in Ukraine.
Kundra is still in possession of 285 Bitcoins which are presently valued at more than Rs 150 crore, the ED said. The celebrity couple is yet to make a statement on the new development.
