Raj kundra ponzi scam: ED had seized the 97 cr rupees property today. Know the details below; Raj kundra ponzi scam: The Enforcement Directorate (ED) has taken away properties worth Rs 97.79 crore from businessman Raj Kundra. ED seized it due to a bitcoin scam.
Raj kundra ponzi scam
The properties include a flat in Juhu. It was owned by Shilpa Shetty. Apart from it a bungalow in Pune and equity shares in Kundra’s name have also been seized. The investigation was started after FIRs were filed by Maharashtra Police and Delhi Police. This FIR was against Variable Tech Private Limited and individuals like Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and others.The accused are said to have gathered a large sum of money in bitcoins (around Rs 6,600 crore in 2017) by promising a 10% monthly return in bitcoins.
Ponzi scam
The bitcoins that were collected were supposed to be used for bitcoin mining. The investors were supposed to get a lot of money in return. But the people who organized it cheated the investors. They hid the stolen bitcoins in secret online wallets.According to the ED’s investigation, Raj Kundra got 285 bitcoins from Amit Bhardwaj. Amit was the mastermind behind the GainBitcoin scam. Amit Bhardwaj collected the bitcoins from innocent investors.Since the plan didn’t work out, Raj Kundra still has those 285 bitcoins. These are now worth more than Rs 150 crore.Before this, the police searched for evidence and arrested three people. These peSimpy Bhardwaj, Nithin Gaur, and Nikhil Mahajan. They are currently in jail.The main culprits, Ajay Bhardwaj and Mahendra Bhardwaj, are still on the run.Earlier, the ED had taken away properties worth Rs 69 crore.On June 11, 2019, the prosecution filed a complaint, and on February 14 of this year, they added more information to the case. A special court is now looking into the complaints.
