In an astonishing development, the Enforcement Directorate’s Mumbai branch has issued a provisional attachment order for properties valued at approximately Rs. 97.79 Crore linked to Raj Kundra, also known as Ripu Sudan Kundra, under the strong provisions of the Prevention of Money Laundering Act (PMLA) 2002.
Under the Prevention of Money Laundering Act (PMLA), ED, Mumbai has tentatively seized assets valued at approximately Rs. 97.79 Crore that are believed to belong to Ripu Sudan Kundra, also known as Raj Kundra. These assets consist of both immovable and movable property. Among the attached immovable properties is a residential flat located in Juhu, currently registered under the name of Smt. Shilpa [Name or Identification].
— ED (@dir_ed) April 18, 2024
In the confiscated possessions, there’s a luxurious apartment in fashionable Juhu, bearing the name of the renowned actress Smt. Shilpa Shetty. Additionally, a grand villa can be found relaxing in Pune, and a significant number of Kundra’s own equity shares.
Unsuspecting individuals have been drawn into an intriguing scheme, resulting in the amassing of approximately Rs. 6600 Crore in Bitcoins – that’s a staggering amount! – with the allure of a consistent 10% monthly profit.
To begin with, the Maharashtra and Delhi Police filed numerous FIRs against M/s Variable Tech Pte Ltd and individuals such as Amit Bhardwaj and others, who were implicated in a Bitcoin scam. The list of suspects read like the cast of a thriller novel.
The ED’s investigation brought to light shocking connections between Raj Kundra and the infamous Gain Bitcoin Scam. It is claimed that Kundra received a substantial amount of 285 bitcoins from the scheme’s mastermind, Amit Bhardwaj, in relation to a Bitcoin mining project based in Ukraine.
Today, the value of these Bitcoins exceeded Rs. 150 Crores, reportedly obtained through questionable means by taking advantage of innocent investors.
Despite the deal not going through in the end, Kundra retains the digital currency for himself. This turn of events comes after a string of ED investigations, leading to the apprehension of individuals such as Simpy Bhardwaj, Nitin Gaur, and Nikhil Mahajan. However, influential figures like Ajay Bhardwaj and Mahendra Bhardwaj have managed to evade capture so far.
In the past, the Enforcement Directorate (ED) had confiscated properties valued at around Rs. 69 Crore as part of this case investigation. Since then, the judicial process has been underway since 2019, and a new supplementary complaint was submitted in February 2024, adding complexity to the ongoing tale.
As the investigation progresses, the search for the hidden wrongdoers becomes more urgent, revealing the complex network of fraudulent crypto schemes and their tangible consequences in the real world.
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2024-04-19 10:14