Raj Kundra summoned by Mumbai PMLA court in crypto money-laundering case

A special court under the Prevention of Money Laundering Act (PMLA) in Mumbai has summoned businessman Raj Kundra, husband of actor Shilpa Shetty, in connection with the GainBitcoin cryptocurrency fraud and an associated money-laundering probe.

The court took cognisance of a supplementary chargesheet recently filed by the Enforcement Directorate and directed Kundra to appear before it on January 19. Dubai-based businessman Rajesh Ram Satija has also been summoned in the same case.

In its order, the special judge observed that a prima facie case exists to proceed against the accused under Section 3 of the PMLA, paving the way for trial proceedings.

The case relates to the GainBitcoin scheme, a cryptocurrency investment and mining venture that allegedly duped thousands of investors across the country. The scheme is believed to have been masterminded by Amit Bhardwaj, who later died. Investigators allege that investors were lured with promises of high returns through Bitcoin mining, which never materialised.

According to the ED, Kundra allegedly received 285 Bitcoins as proceeds of crime from Bhardwaj. At the time of assessment, the digital assets were valued at over ₹150 crore. The agency has claimed that Kundra continued to hold these Bitcoins without providing a credible explanation regarding their legitimate source.

The ED has further alleged that Kundra was not merely an intermediary but a beneficial owner of the proceeds. 

The matter remains under judicial consideration, and further proceedings will depend on the court’s assessment of the evidence presented by the enforcement agency.