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"ED Seizes 97.79 Crores Worth of Properties Linked to Raj Kundra and Shilpa Shetty in Bitcoin Ponzi Scheme Case"

**Raj Kundra News: ED Seizes Properties Worth 97.79 Crores in Bitcoin Ponzi Scheme Case Involving Shilpa Shetty**

In a major development, the Enforcement Directorate's Mumbai branch has seized properties worth 97.79 crores under the Prevention of Money Laundering Act (PMLA) in connection with the Bitcoin Ponzi scheme case. The seized properties include a bungalow in Juhu registered in Shilpa Shetty's name and another bungalow in Pune. Additionally, shares in Raj Kundra's name were also confiscated by the ED. It is noteworthy that the ED initiated an investigation under PMLA based on various FIRs filed in Maharashtra.

**The Allegations**

The allegations revolve around Messrs. Variable Tech Private Limited, late Amit Bharadwaj, Ajay Bharadwaj, Vivek Bharadwaj, Simpi Bharadwaj, Mahendra Bharadwaj, and other MLM agents who allegedly acquired around 6600 crores in Bitcoin in 2017 from investors based on false promises of 10% returns. These funds were purportedly used for personal gains in Bitcoin mining, constituting a Ponzi scheme. It is alleged that Raj Kundra obtained 285 Bitcoins from the mastermind of the scam, which were fraudulently acquired from investors by Amit Bharadwaj in Ukraine for Bitcoin mining.

**Statement from Shilpa Shetty's Lawyer**

Responding to the allegations, Shilpa Shetty and Raj Kundra's lawyer issued a statement, asserting their commitment to legal due process. They emphasized that no case stands against their clients and expressed confidence in the judicial process. They are prepared to cooperate with authorities and have full faith in a fair and impartial investigation.

**ED's Actions**

ED had previously arrested three suspects in this case. Simpi Bharadwaj was arrested on December 17, 2023, Nitin Gaur on December 29, 2023, and Akhil Mahajan on January 16, 2023. All three are currently in custody. The main accused, Ajay Bharadwaj and Mahendra Bharadwaj, are still at large, and the ED is actively searching for them. Prior to this, the ED had already seized movable and immovable properties worth 69 crores in this case.

**Conclusion**

The case involving Raj Kundra and Shilpa Shetty has garnered significant attention, highlighting the complexities and challenges associated with cryptocurrency-related crimes. As the investigation unfolds, it remains to be seen how the legal proceedings will impact the individuals involved and the broader cryptocurrency landscape.
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