Enforcement Directorate (ED) took action on April 18, seizing properties belonging to businessman Raj Kundra, valued at over Rs 97 crore, in connection with a money laundering case.
Among the properties seized are a residential flat in Juhu, Mumbai, owned by Kundra’s wife, Shilpa Shetty, as well as a residential bungalow in Pune.
The case revolves around allegations of cheating investors through the use of Bitcoins. The ED issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) for properties totaling Rs 97.79 crore.
The money laundering case originated from FIRs filed by the Maharashtra Police and Delhi Police against Variable Tech Pvt Ltd, Amit Bhardwaj, and others. They were accused of collecting large sums from the public with false promises of high returns, totaling Rs 6,600 crore in Bitcoins.
The ED alleges that Kundra received 285 Bitcoins from Amit Bhardwaj, the mastermind behind the Gain Bitcoin Ponzi scam, for setting up a Bitcoin mining farm in Ukraine.
The investigation is ongoing, with authorities scrutinizing the alleged concealment of ill-gotten Bitcoins in obscure online wallets.
Also Read | https://themobilenewsnetwork.com/live-updates-on-the-pseb-10th-result-2024/
