ED freezes Raj Kundra’s assets worth Rs 98 crore; Juhu flat in Shilpa Shetty name, villa in Pune seized – Details inside

On Thursday, the Enforcement Directorate (ED) seized the assets of actress Shilpa Shetty Kundra and her entrepreneur husband Raj Kundra. As per the reports, the ED attached the couple’s properties worth Rs 98 crore under the provisions of the Prevention of Money Laundering Act PMLA 2002.

ED freezes Shilpa Shetty & Raj Kundra’s assets

As reported by Zee News India, Raj Kundra and Shilpa Shetty’s seized properties are valued at Rs 97.79 crore. It include a luxurious bungalow in Pune, a residential flat in Juhu – registered under Shilpa’s name and equity shares in Kundra’s name. The case revolves around the misuse of investor funds through the digital currency, Bitcoin.

This money laundering case trace back to FIRs lodged by the Maharashtra Police and Delhi Police. They were filed against a company named Variable Tech Pte Ltd and several individuals including the Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and numerous agents. It was alleged that they amassed a staggering amount of funds in the form of Bitcoins from the unsuspecting public. Reportedly, the valued of these funds was Rs 6,600 crore in 2017. They reportedly lured them with false promises of a 10% monthly return in the form of Bitcoins. However, the promoters were accused of cheating the investors and concealing the ill-gotten Bitcoin in obscure online wallets.

Shilpa Shetty-Raj Kundra advocate statement

Soon after the news of the couple’s assets being frozen made the headlines, their advocate, Prashant Patil, released a statement. It reads, “We shall follow the due process of law and take necessary steps as prescribed under the provisions of the Prevention of Money Laundering Act to protect the liberty and property of my clients.”

It further reads, “On the face of it, there is no prima facie case made out against my clients Mr Raj Kundra and Mrs Shilpa Shetty Kundra. We have complete faith in the Honourable Judiciary. I believe when we make our fair representation before the Honourable Enforcement Directorate, even the investigation agencies may grant justice to us. We have faith in a fair investigation. We stand committed to cooperate with the authorities as and when required.”

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