Raj Kundra, a businessman and the spouse of Bollywood actress Shilpa Shetty, is in legal problems once again. The Enforcement Directorate (ED) has raided his residence situated in Santacruz, Mumbai as a part of a money laundering investigation. As per media reports, the time of the operation, which began on Friday, was quite early, at 6 a.m. The ED is not limiting itself to Kundra’s abode. According to reports they are doing searches at 15 other places in the states of Maharashtra and Uttar Pradesh as well.
Background of the Case
The problems that Raj Kundra is undergoing are in connection with a bitcoin related money laundering case. To the best of our knowledge, the case as such started as far back as 2017, when a company named gain bitcoin launched its operations, which offered considerable returns to people investing in bitcoin mining. There was a proposal to invest money in the company with a projected return of 10%, which made a number of investors go in for huge investments. It went under the radar though as the company had started to gain people’s attention when people lodged several complaints against the company in 2018 and 2019 leading to an inquiry by the police in Maharashtra.
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With the continued development of the case, it was the turn of the Enforcement Directorate to take over the investigation, leading to the arrest of some individuals, including the purported head of the scheme Amit Bhardwaj. Kundra’s involvement came about when it was discovered that 285 Bitcoins amounting to nearly Rs 150 crore had been remitted to his account from Bhardwaj’s account.
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