PMLA court asks Kundra to appear over charges of owning scam-linked crypto and laundering funds through Shilpa Shetty
Raj Kundra Faces Heat in GainBitcoin Crypto Scam
Businessman Raj Kundra, best known for his celebrity links and past controversies, has been summoned by a Mumbai PMLA court after the Enforcement Directorate (ED) filed a detailed chargesheet accusing him of deeper involvement in the GainBitcoin scam than previously known.
Also summoned: Dubai-based businessman Rajesh Satija. Both are scheduled to appear in court on January 19, following ED’s allegations that Kundra wasn’t just a mediator—he was a beneficial owner of the scam’s proceeds.
The chargesheet, filed in September 2025, links Kundra directly to 285 Bitcoins, valued at over ₹150 Cr today.
From Ukraine to Juhu: A Bitcoin Trail Gone Cold
According to the ED, Amit Bhardwaj—the alleged mastermind of GainBitcoin who died in 2022—transferred 285 Bitcoins to Kundra to help set up a Bitcoin mining farm in Ukraine.
- The project never materialized.
- But Kundra allegedly retained the crypto, whose current market value exceeds ₹150 Cr.
- ED claims Kundra refused to cooperate by not disclosing wallet addresses or transaction details.
Question: If the mining farm was never built, where did the money go?
Layered Deals & Alleged Laundering via Shilpa Shetty
The ED further alleges that Kundra tried to clean the tainted funds through a series of transactions involving his wife, actor Shilpa Shetty.
- In April 2024, the ED attached properties worth ₹97.79 Cr:
- A Juhu flat in Shetty’s name
- A Pune bungalow
- Kundra’s equity holdings
- ED believes these were purchased using laundered gains from the scam.
Separately, Dubai-based assets worth ₹10.63 Cr linked to Bhardwaj were also attached, pointing to a global laundering network.
GainBitcoin Scam: A ₹1,000+ Cr Ponzi Web
The GainBitcoin scam—one of India’s largest crypto frauds—was built around promises of guaranteed returns through Bitcoin mining. It eventually unraveled as a Ponzi scheme, with thousands duped across India and abroad.
- Promoted by Variable Tech Pte Ltd, the scam involved the Bhardwaj family syndicate: Amit, Ajay, Vivek, Simpy, and Mahender.
- Estimated number of victims: 8,000+
- Total suspected fraud: Over ₹1,000 Cr, with international tentacles.
Victims say the scam preyed on first-time crypto investors with high-yield promises—and no real mining backend.
What’s Next for Kundra?
While this isn’t Kundra’s first brush with law enforcement—he was previously in the spotlight over an alleged adult content case—this crypto-linked case is far more financially complex and could carry serious consequences under the Prevention of Money Laundering Act (PMLA).
Question: Will this be another high-profile trial that drags on—or the one that lands hard?
TL;DR:
Raj Kundra has been summoned by a Mumbai PMLA court in the ₹1,000+ Cr GainBitcoin scam. ED claims he was a beneficiary, not just a middleman, and received 285 Bitcoins from scamster Amit Bhardwaj. Properties worth ₹97.79 Cr linked to Kundra and Shilpa Shetty were previously attached.
