shanprakash
The Enforcement Directorate made a significant move on Thursday, seizing properties belonging to businessman Raj Kundra valued at Rs 97.79 crore. Among the seized assets is a residential flat located in Mumbai’s upscale Juhu area, registered under the name of his wife, Bollywood actor Shilpa Shetty. Additionally, a residential bungalow in Pune and equity shares held by Raj Kundra were also included in the attachment.
According to the ED, the Mumbai zonal office took this action under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. The investigation stemmed from multiple FIRs filed by both the Maharashtra Police and Delhi Police. Allegations suggest that Kundra, along with others, amassed significant funds, primarily in bitcoins, amounting to Rs 6,600 crore in 2017, by luring unsuspecting individuals with promises of a 10% monthly return in the form of bitcoins.
The ED stated that these collected bitcoins were intended for bitcoin mining, with investors anticipating substantial returns in crypto assets. However, the investigation revealed fraudulent practices, with the accused concealing the ill-gotten bitcoins in obscure online wallets.
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