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ED attaches Raj Kundra's properties worth Rs 97.79 cr under PMLA

The properties include his residential bungalow situated in Pune, a residential flat, presently under the name of his wife, Shilpa Shetty, and his equity shares.
Last Updated : 18 April 2024, 06:55 IST
Last Updated : 18 April 2024, 06:55 IST

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New Delhi: In a significant development, the Enforcement Directorate has provisionally attached immovable and movable properties worth Rs. 97.79 crore belonging to actor-model and fitness enthusiast Shilpa Shetty and her husband Ripu Sudan Kundra alias Raj Kundra.

The action was taken under the provisions of Prevention of Money Laundering Act, 2002 (PMLA).

The attached properties include a residential flat situated in Juhu in Mumbai presently in the name of Shilpa Shetty, residential bungalow situated in Pune and equity shares in the name of Raj Kundra.

The ED regional office in Mumbai confirmed the development.

The money laundering case stems from FIRs by the Mumbai Police and Delhi Police against a company named Variable Tech Pvt Ltd, late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and number of agents.

It was alleged that they had collected huge amounts of funds in the form of Bitcoins - worth Rs 6,600 crore in 2017 - from gullible public with false promises of 10 per cent/month return in the form of Bitcoins.

The money laundering case stems from FIRs of the Maharashtra Police and Delhi Police against a company named Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and number of agents, where it was alleged that they had collected huge amounts of funds in the form of Bitcoins (worth Rs 6,600 crore in 2017) from gullible public with the false promises of 10 per cent per month return in the form of Bitcoins.

The promoters cheated the investors and have been concealing the ill gotten Bitcoins in obscure online wallets, the ED alleged.

Kundra, it claimed, received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin Ponzi scam Amit Bhardwaj for setting up Bitcoin mining farm in Ukraine.

Kundra is still in possession of 285 Bitcoins which are presently valued at more than Rs 150 crore, the ED said.

With PTI inputs

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Published 18 April 2024, 06:55 IST

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