Mumbai – Raj Kundra, entrepreneur and husband of Bollywood Shilpa Shetty actress, has been formally accused in India for a fraud related to Bitcoin worth more than $ 31 million. The Compliance Directorate (ED) presented the case under the Law on Money Laundering (PMLA), citing Kundra’s role in the reception and retention of cryptocurrency.
According to the Emergency Department, Kundra received 285 Bitcoin from Amit Bhardwaj, a late cryptographic entrepreneur involved in large -scale fraud. The agency states that Kundra did not provide details of the digital wallet that contains the cryptocurrency, despite multiple opportunities to reveal it since 2018.
The researchers also claim that some of these Bitcoin assets were transferred to Shilpa Shetty at values ​​well below the market rate, which according to the Emergency Department obscured the origin of the funds. The case is derived from the previous complaints filed against Variable Tech Private Limited and its promoters, including Bhardwaj.
Bhardwaj had initially provided Bitcoin to Kundra for a mining operation proposed in Ukraine. Although the project was never implemented, Kundra is accused of retaining control over cryptocurrency.
Kundra has previously faced legal scrutiny, including an arrest related to the production of adult content and other financial issues. Shilpa Shetty is an internationally recognized Bollywood actress who jumped to fame after winning the United Kingdom’s reality show Celebrity Big Brother in 2007.
The ED is examining all transactions linked to Kundra and evaluating the flow of funds to determine the possible violations of the money laundering laws of India.
Key points: Raj Kundra Bitcoin Case
- 1 Raj Kundra received 285 bitcoin from Amit Bhardwaj in 2018.
- 2 Bitcoin’s current market value exceeds $ 31 million.
- 3 Kundra supposedly did not reveal the cryptocurrency wallet held by the bitcoin.
- 4 Some Bitcoin were transferred to Shilpa Shetty below the market value.
- 5 Bitcoin was destined for a mining project in Ukraine that never started.
- 6 The ED presented charges under the Law of Money Laundering of India (PMLA).
- 7 The investigation is linked to Tech Private Limited variable and its promoters.
- 8 Amit Bhardwaj, the original scam operator, has died.
- 9 Raj Kundra has faced previous legal controversies, including the production of adult content.
- 10 Shilpa Shetty does not face any position, but is linked to certain financial transactions.
- 11 The Emergency Department can trace unleashed cryptographic assets to confirm its legal property.
- 12 This is one of the cases of cryptocurrency of larger celebrities in India.
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