ED attaches properties worth Rs 97.79 crore of Shilpa Shetty, Raj Kundra in money laundering case
The Directorate of Enforcement (ED) attached properties valued at Rs 97.79 crore belonging to Raj Kundra under the Prevention of Money Laundering Act, 2002. ED attached the flats in Mumbai, Pune of Shilpa Shetty and Raj Kundra and equity shares.
The Directorate of Enforcement (ED) attached properties valued at Rs 97.79 crore belonging to Raj Kundra under the Prevention of Money Laundering Act, 2002. ED attached the flats in Mumbai, Pune of Shilpa Shetty and Raj Kundra and equity shares. In response to these developments, Raj Kundra's team has shared a statement from Prashant Patil, the counsel representing Shilpa Shetty and Raj Kundra.
Prashant Patil has reiterated their commitment to adhering to the due process of law.
He emphasized, "We shall follow the due process of law and take necessary steps as prescribed under the provisions of Prevention of Money Laundering Act to protect the liberty and property of my clients."
Patil also stated, "On the face of it, there is no prima facie case made out against my clients Mr Raj Kundra and Mrs Shilpa Shetty Kundra."
Expressing confidence in the judicial system, Patil affirmed, "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 the fair investigation. We stand committed to cooperate with the authorities as and when required."
The ED's investigation stemmed from multiple FIRs filed by the Maharashtra Police and Delhi Police against various individuals and entities involved in a Bitcoin Ponzi scam. The scam allegedly collected significant funds from the public under false promises of high returns, concealing ill-gotten gains in obscure online wallets.
According to the ED, Raj Kundra received 285 Bitcoins from the mastermind of the scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine. These Bitcoins were sourced from proceeds of crime collected from investors. Despite the deal not materializing, Kundra is allegedly still in possession of these Bitcoins, valued at over Rs. 150 crore.
Earlier arrests have been made in connection with the scam, with individuals presently in judicial custody, while the main accused remain absconding. The ED had previously attached properties worth Rs 69 crore in this case. Further investigation is ongoing.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
07:30 PM IST