The Aryavarth Express
Agency(New Delhi): On Thursday, the Enforcement Directorate (ED) announced the attachment of properties valued at Rs 98 crore owned by Bollywood actor Shilpa Shetty and her husband Raj Kundra. This action is part of an ongoing investigation into a Bitcoin Ponzi scheme that allegedly defrauded investors.
The properties under attachment include a residential flat in Juhu, Mumbai, registered in Shetty’s name, a bungalow in Pune, and several equity shares owned by Kundra. The ED issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA) to secure assets worth Rs 97.79 crore.
This move by the ED was publicized through a statement and on social media, noting that the properties are tied to funds allegedly collected through deceptive promises made by the operators of a Bitcoin investment scheme.
The case originates from complaints filed by Maharashtra and Delhi Police against Variable Tech and its associates, including Late Amit Bhardwaj and several Bhardwajs, who are accused of accumulating substantial sums, approximately Rs 6,600 crore in 2017, by promising monthly returns of 10% in Bitcoin. According to the ED, these operators have concealed their illicit gains in hard-to-trace digital wallets.
Raj Kundra is specifically alleged to have received 285 Bitcoins from Amit Bhardwaj, the scheme’s mastermind, purportedly for establishing a Bitcoin mining operation in Ukraine. These Bitcoins are currently estimated to be worth over Rs 150 crore. Kundra reportedly still possesses these assets.
Further developments in January saw the arrest of a Dubai-based businessman, Nikhil Mahajan, linked to the same scheme for promoting it in Dubai and collecting 40 Bitcoins.
As the main accused, Ajay and Mahendra Bhardwaj remain elusive, the investigation continues to unfold, with the ED’s latest actions marking a significant step in addressing this high-profile financial scandal.
