April 18, 2024: The Directorate of Enforcement (ED), Mumbai Zonal Office has provisionally attached the immovable and movable properties worth Rs 97.79 crore belonging to Ripu Sudan Kundra aka Raj Kundra under the provisions of Prevention of Money Laundering Act (PMLA), 2002.
The attached properties include the residential flat situated in Juhu that is in the name of Shilpa Shetty, residential bungalow situated in Pune and equity shares in the name of Raj Kundra, the ED said in an official statement.
ED’s latest action against Kundra is in connection with the money laundering case which was filed against him based on multiple FIRs registered b
In connection with the money laundering case filed against Raj Kundra, the ED initiated action against him on the basis of multiple FIRs registered by the Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and number of MLM agents. According to the statement, the FIRs alleged that they had collected huge amounts of funds in the form of Bitcoins (worth Rs 6,600 crore in 2017) from people with the false promises of giving a 10% per month return in the form of Bitcoins.
The collected Bitcoins were supposed to be utilised for Bitcoin mining and investors were supposed to get huge returns in Crypto assets. But the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets, mentioned the official ED statement.
ED investigation revealed that Raj Kundra received 285 Bitcoins from the master mind and promoter of Gain Bitcoin Ponzi Scam Amit Bhardwaj for setting up Bitcoin mining farm in Ukraine. The said Bitcoins were sourced out of proceeds of crime collected by Amit Bhardwaj from gullible investors. Since the deal didn’t materialise, Kundra is still in possession and enjoyment of 285 Bitcoins which are presently valued at more than Rs. 150 crore.
This is the second property attachment in this case. Earlier, the ED had attached properties worth Rs 69 Crore.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
Email: [email protected]
Related Posts
Zakir Naik rejects ED’s charges, says all money sent to India accounted for.
Bank loan fraud: ED attaches assets worth Rs 483 crores of Kolkata-based KSL and Industries.
SC seeks ED’s reply on Karti Chidambaram’s plea against property attachment.
PNB fraud: ED attaches assets worth over Rs 218 crores of Mehul Choksi, others.
ED attaches over Rs 2,500-crore assets of Haryana-based SRS Group, in connection with fraud case.
ED raids M3M, IREO offices in money-laundering investigation.
