June 25, 2024

Raj Kundra finds himself embroiled in legal controversy following a Bitcoin Ponzi scam. Consequently, the Enforcement Directorate has confiscated his and Shilpa Shetty’s properties. Amidst these legal hassles, Raj posted an intriguing comment on social media. Scroll on for the details!


Shilpa Shetty and Raj Kundra. (Photo: Instagram)

New Delhi: A Bitcoin Ponzi scam has led the Enforcement Directorate (ED) to confiscate properties valued at Rs 97.79 crore owned by actress Shilpa Shetty and her spouse, Raj Kundra. As this legal predicament unfolded, Raj Kundra opted to share an enigmatic post on Instagram.

Raj Kundra’s Enigmatic Instagram Post Amidst Legal Challenges

Business tycoon and Shilpa Shetty’s spouse, Raj Kundra opted to express his thoughts via an enigmatic post on his Instagram Stories. He accompanying a roaring lion’s image with the text, “Learning to stay calm when you feel disrespected is a different type of growth.” Additionally, he included background music from Ranbir Kapoor’s film, Animal.

Have a look

Enigmatic post by Raj Kundra on Instagram

Enigmatic post by Raj Kundra on Instagram

Confiscation of Shilpa Shetty and Raj Kundra’s Assets

The ED sprang into action following several complaints lodged with the Maharashtra and Delhi Police against Variable Tech Private Limited, the late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, among others. The investigating body revealed on Thursday, April 18, that it had provisionally seized movable and immovable assets amounting to Rs 97.79 crores belonging to Raj Kundra and Shilpa Shetty. These seizures were made pursuant to the Prevention of Money Laundering Act (PMLA) in the case of Bitcoin investment fraud.

The state agency reported the seized assets comprised a residential flat in the swank Juhu neighbourhood registered in Shilpa Shetty’s name, a residential bungalow in Pune and equity shares registered in the name of Raj Kundra.

The FIRs claim the accused amassed vast sums of money totalling Rs 6,600 crores in Bitcoins from individuals in 2017 with fraudulent promises of a 10% return on investment in Bitcoins.

Nevertheless, both Raj Kundra and Shilpa Shetty have strongly disavowed any involvement in this case.

The celebrity power couple’s legal counsel, Prashant Patil, stated, “There is no prima facie case against my clients Mr Raj Kundra and Mrs Shilpa Shetty Kundra. I am confident that when we present our case honestly before the esteemed Enforcement Directorate, justice will prevail. We trust in a just and fair investigation.”

The Ponzi Scheme Explained

A Ponzi scheme is a hoax where investors are lured with promises of exorbitant profits with minimal or no risk. The operator of the scheme focuses on attracting more people and uses the money from later investors to pay profits to the earlier investors.