According to an official, the Directorate of Enforcement has temporarily attached properties worth Rs 97.79 billion that belong to Raj Kundra by the Prevention of Money Laundering Act, 2002. According to ED officials, the connected properties include of equity shares, a residential bungalow in Pune, and a residential unit in Juhu.
By the terms of the Prevention of Money Laundering Act (PMLA), 2002, the Directorate of Enforcement (ED), Mumbai Zonal Office, has temporarily attached immovable and movable properties valued at Rs 97.79 crore that belong to Ripu Sudan Kundra, also known as Raj Kundra. The properties that are linked are a residential apartment in Juhu that is currently owned by Shilpa Shetty, a residential house in Pune, and equity shares that Raj Kundra owns, according to the ED.
The ED opened an investigation based on several First Information Reports (FIRs) filed by the Delhi Police and Maharashtra Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj, and several multilevel marketing (MLM) agents. It is claimed that these individuals amassed enormous sums of money in Bitcoins (worth Rs 6600 crore in 2017 alone) from the gullible public under false pretenses of earning ten percent monthly return in the form of Bitcoins.
The gathered Bitcoins were intended for mining, and investors were expected to receive enormous profits in virtual currency. However, the ED claimed that the promoters had defrauded the investors and had been hiding the illicitly obtained Bitcoins in secret online wallets.
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