Businessman Raj Kundra, husband of actor Shilpa Shetty, has been chargesheeted by the Enforcement Directorate (ED) in connection with a ₹150 crore bitcoin scam, with investigators accusing him of money laundering and deliberately concealing crucial evidence.
According to the ED, Kundra allegedly possessed 285 Bitcoins, valued at ₹150.47 crore, which he received from late crypto-scam mastermind Amit Bhardwaj.
The chargesheet, filed before a special Prevention of Money Laundering Act (PMLA) court, claims Kundra was the beneficial owner of the assets, contradicting his assertion that he merely acted as a mediator in the transactions.
Investigators said Kundra not only failed to surrender the Bitcoins but also withheld wallet addresses, citing damage to his iPhone X as the reason for the missing information.
The ED argued that this amounted to a deliberate attempt to destroy evidence and conceal proceeds of crime.
The chargesheet further alleged that Kundra attempted to disguise the origin of the assets by making a “genuine transaction” with his wife, actor Shilpa Shetty, at “far below market rate,” thereby layering the proceeds of crime and projecting them as untainted.
Also Read : Shilpa Shetty, Raj Kundra booked in ₹60-cr fraud case
The case stems from multiple FIRs filed by Maharashtra Police and Delhi Police against Variable Tech Private Limited, Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, and Mahender Bhardwaj.
Investigations revealed that investors were promised high returns in crypto assets but were defrauded, with the promoters allegedly concealing Bitcoins in obscure online wallets.
Kundra is said to have received 285 Bitcoins from Amit Bhardwaj for setting up a mining farm in Ukraine. The deal, however, collapsed, and Kundra is alleged to have continued holding the Bitcoins.
The ED stated that the agreement titled “Term Sheet” was signed between Kundra and Mahender Bhardwaj, undermining his claim of being a mere mediator.
“The fact that Kundra remembers the exact number of Bitcoins received in five specific tranches for more than seven years since the transactions took place solidifies the fact that he was indeed the recipient of Bitcoins as a beneficial owner,” the chargesheet said.
Besides Kundra, businessman Rajesh Satija has also been named in the chargesheet.
Separately, Kundra and Shetty are under investigation in another ₹60 crore cheating case.
The Economic Offence Wing has accused the couple, as former directors of Best Deal TV Private Limited, of duping a businessman of ₹60.4 crore in a loan-cum-investment deal linked to the now-defunct home shopping and online retail platform.
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