Businessman Raj Kundra’s properties well worth nearly Rs ninety eight crore, together with his spouse Shilpa Shetty's Juhu flat, has been seized with the aid of Enforcement Directorate (ED). The Mumbai Zonal Office has provisionally connected immovable and movable residences worth Rs. Ninety seven.79 crore belonging to Ripu Sudan Kundra aka Raj Kundra under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The connected properties include Residential flat located in Juhu presently inside the call of Shilpa Shetty, sesidential bunglow situated in Pune and equity stocks in the call of Raj Kundra.

ED initiated research on the premise of multiple FIRs registered through Maharashtra Police and Delhi Police in opposition to M/s Variable Tech Pte Ltd, past due Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and range of MLM dealers, wherein it's been alleged that that they had collected huge amounts of budget in the shape of Bitcoins (worth Rs 6,six hundred crore in 2017 itself) from the gullible public with the fake promises of 10 percentage per month go back in the form of Bitcoins.The accumulated Bitcoins were alleged to be utilised for Bitcoin mining and buyers had been purported to get massive returns in crypto property. But the promoters cheated the traders and were concealing the unwell gotten Bitcoins in obscure on line wallets.

ED investigation found out that Raj Kundra obtained 285 Bitcoins from the master thoughts and promoter of Gain Bitcoin Ponzi scam Amit Bhardwaj for putting in place Bitcoin mining farm in Ukraine.

The said Bitcoins were sourced out of proceeds of crime accrued by using Amit Bhardwaj from gullible investors. Since the deal didn’t materialise, Kundra remains in ownership and entertainment of 285 Bitcoins which are presently worth extra than Rs 150 crore.

Earlier, a couple of search operations had been executed in this example and 3 persons have been arrested specifically Simpy Bhardwaj on December 17, Nitin Gaur on December 29 and Nikhil Mahajan on January 1 last year. All of them are currently in judicial custody as on date.

The important accused Ajay Bhardwaj and Mahendra Bhardwaj are still absconding. Earlier, ED had attached homes worth Rs sixty nine crore. The prosecution criticism on this has been filed on June 11, 2019 and supplementary posecution complaint on February 14, 2024. The Hon’ble Special PMLA courtroom has taken focus of the identical.