Raj Kundra in Bitcoin Scam! ED Freezes Rs 98 Crore Assets!

Shilpa Shetty And Raj Kundra
Shilpa Shetty And Raj Kundra

Raj Kundra, husband of the famous actress Shilpa Shetty, is under investigation for his crime Bitcoin Ponzi Scheme. The Enforcement Directorate (ED) has taken serious action against the case and seized over 98 crores from the Star couple.

For Raj Kundra, it's not his first time to be arrested. Raj was arrested by Mumbai police in July 2021 for forcing women to do Pornographic scenes after promising the role in a web series. The accused was released from jail in September 2021.

Ponzi scheme:

A Ponzi scheme is a fraudulent investment scheme in which returns are paid to earlier investors using the investments of newer investors, rather than from actual profits earned. 

Raj Kundra's Gain Bitcoin Ponzi scheme:

Raj Kundra's Gain Bitcoin Ponzi scheme promised investors a monthly return of 10% in bitcoins. The scheme was promoted by Ajay and Mahender Bhardwaj. 

The accused allegedly deceived investors and collected about ₹6,600 crore in Bitcoins in 2017. Raj Kundra intended to establish a Bitcoin mining farm in Ukraine, but the deal fell through, leaving him with possession of the Bitcoins, currently valued at more than ₹ 150 Crore.

The police have seized assets worth 98 crores from Raj Kundra, including a residential flat in Juhu registered under Shilpa Shetty's name, a residential bungalow in Pune, and Raj Kundra's equity shares.