TOP STORY/ ED Seizes Raj Kundra's Properties Worth Rs 97.79 Crore, Including Shilpa Shetty's Flat

Mumbai: The Enforcement Directorate (ED on Thursday provisionally attached immovable and movable properties worth Rs 97.79 Crore belonging to businessman Raj Kundra under the provisions of PMLA, 2002 in its money-laundering probe related to the alleged Bitcoin-based ponzi scam, involving a Singapore-based firm Variable Tech Pte Ltd.

The attached properties include a Residential flat situated in Juhu presently in the name of Kundra's wife and Bollywood actor Shilpa Shetty, a Residential Bungalow situated in Pune and Equity shares in the name of the businessman. 

"There is no prima facie case made out against my clients Mr Raj Kundra and Mrs Shilpa Shetty Kundra. I believe when we make our fair representation before the Honourable Enforcement Directorate, even the investigation agencies may grant justice to us. We have faith in the fair investigation," their lawyer Prashant Patil said.  

For the unversed, the money laundering case stems from FIRs of the Maharashtra Police and Delhi Police against a company named Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and number of agents, where it was alleged that they had collected huge amounts of funds in the form of Bitcoins (worth Rs 6,600 crore in 2017) from gullible public with the false promises of 10 per cent per month return in the form of Bitcoins.

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 "s" Amit Bhardwaj for setting up a 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 added.