The Enforcement Directorate has attached assets worth ₹98 crore belonging to Bollywood actress Shilpa Shetty and her husband Raj Kundra, including a flat in Mumbai, a bungalow in Pune, and equity shares. The attachment was made in connection with a Bitcoin Ponzi scam money laundering case, with the agency saying that the properties were worth ₹97.79 crore. While the Mumbai flat is in Shilpa Shetty's name, the bungalow in Pune and equity shares are in Raj Kundra's name.
Enforcement Directorate Attaches Assets of Shilpa Shetty and Raj Kundra in Bitcoin Scam
Background
In February 2021, the Enforcement Directorate (ED) initiated a money laundering investigation into an alleged Bitcoin Ponzi scam involving Raj Kundra, husband of Bollywood actress Shilpa Shetty. The scam reportedly operated through an app called "Rocketed" and lured investors with promises of high returns on investments in Bitcoin.
Recent Developments
On March 16, 2023, the ED attached assets worth ₹98 crore belonging to Shetty and Kundra as part of its probe. The attached assets include:
The ED valued the attached properties at ₹97.79 crore.
Top 5 FAQs
1. What is a Bitcoin Ponzi scam?
A Bitcoin Ponzi scam is a fraudulent investment scheme that uses new investments to pay returns to earlier investors, creating an illusion of profit. When the scheme collapses, investors lose their funds.
2. What is the role of Shilpa Shetty and Raj Kundra in the scam?
According to the ED, Kundra was the mastermind behind the scam, while Shetty is allegedly involved through her husband.
3. How much money did investors lose in the scam?
The ED has not yet disclosed the total amount of funds lost by investors.
4. What are the charges against Shetty and Kundra?
Shetty and Kundra have been charged under the Prevention of Money Laundering Act (PMLA).
5. What is the status of the investigation?
The ED's investigation is ongoing. The attached assets will be used to recover the laundered funds and compensate investors.
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