Raj Kundra News
Bollywood Actress Shilpa Shetty and Husband Raj Kundra’s Assets Frozen in ₹98 Crore Money Laundering Probe Linked to Bitcoin Scam
Indian authorities froze nearly ₹98 crore worth of property from actress Shilpa Shetty and her husband Raj Kundra. This is part of an investigation into money laundering connected to a cryptocurrency scam. The frozen assets include a house in Pune and some investments.
The Indian government agency investigating the case released a statement. They listed the specific properties they froze, which total ₹97.79 crore. This includes an apartment in Mumbai currently owned by Shilpa Shetty, a house in Pune belonging to Raj Kundra, and some investments in Kundra’s name. The agency used a legal order to temporarily freeze these assets while their investigation continues.
This case originated from complaints filed by police in both Maharashtra and Delhi. The complaints allege that a company called Variable Tech Pte Ltd, along with several individuals including the Bhardwaj family and some agents, tricked innocent people into investing in Bitcoin. They allegedly promised high returns of 10% per month on Bitcoin investments, but this was a lie. The total amount of money they collected from these victims is estimated to be a staggering Rs 6,600 crore (as of 2017).
The investigators believe the people behind the scam (promoters) hid the stolen Bitcoins in difficult-to-find online accounts. They also allege that Raj Kundra received 285 Bitcoins from the ringleader, Amit Bhardwaj, supposedly for setting up a Bitcoin mining operation in Ukraine. The investigators believe Kundra still has these Bitcoins, which are now worth over Rs 150 crore.
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