Home / Crime and Justice / Raj Kundra Summoned in Rs 6,600 Cr Bitcoin Scam
Raj Kundra Summoned in Rs 6,600 Cr Bitcoin Scam
6 Jan
Summary
- Ripu Sudan Kundra, alias Raj Kundra, summoned in Rs 6,600 crore Gain Bitcoin scam.
- Accused of receiving 285 Bitcoins from crime proceeds for a failed mining farm.
- Enforcement Directorate alleges promoters promised 10% monthly returns.
Businessman Ripu Sudan Kundra, widely known as Raj Kundra, has been issued a summons by a special court to appear on January 19, 2026, in the Rs 6,600 crore Gain Bitcoin Ponzi scheme money laundering case. The Enforcement Directorate's investigation, stemming from multiple FIRs, focuses on allegations that Variable Tech Private Limited and its associates defrauded investors.
The ED claims the promoters collected substantial amounts of Bitcoin by promising investors a 10% monthly return, a promise they allegedly failed to keep. Instead of utilizing the funds for Bitcoin mining, the promoters are accused of cheating investors and concealing the assets. Kundra allegedly received 285 Bitcoins, valued at over Rs 150 crore, from the scheme's mastermind, Amit Bhardwaj, for establishing a mining farm in Ukraine, which never materialized.
In a related development, the ED had previously attached properties worth Rs 97.79 crore, including a Juhu flat owned by Kundra's wife, Shilpa Shetty, and a Pune bungalow. The agency also sought legal assistance from the UAE for attaching properties acquired there with the illicit funds, indicating a widening international scope to the investigation.
