By Martin Shwenk Leade

Copyright indiatimes

Shilpa Shetty and Raj Kundra

The Enforcement Directorate (ED) has filed a chargesheet against businessman Raj Kundra in connection with a bitcoin-linked money laundering case, alleging that he was a “beneficial owner” of 285 Bitcoins and not just a mediator as he has claimed.The chargesheet, recently filed before a special PMLA court, states that the Bitcoins, currently valued at ₹150.47 crore, were received by Kundra from late crypto-scam mastermind Amit Bhardwaj.ED says Kundra concealed evidenceAccording to the ED, Kundra failed to disclose crucial details of the transactions. Kundra has deliberately concealed crucial evidence, including the Bitcoin wallet addresses and failed to surrender the Bitcoins received from Bhardwaj, the chargesheet said as quoted by PTI.It further alleged that Kundra remained in possession and “enjoyment of the said proceeds of crime (Bitcoins).”The agency also claimed Kundra entered into a financial deal with his wife, actor Shilpa Shetty, to disguise the source of funds. “He did a genuine transaction with his actor wife Shilpa Shetty at far below market rate to disguise the origin of such funds obtained by commission of criminal activities,” the chargesheet said.Live EventsLink to gain Bitcoin ponzi caseThe case stems from FIRs filed by Maharashtra Police and Delhi Police against Variable Tech Pvt Ltd, Amit Bhardwaj, and other associates. The Bhardwajs allegedly lured investors with promises of high returns through crypto mining, but instead “cheated” them and hid the “ill-gotten Bitcoins in obscure online wallets.”The ED alleged that Kundra received 285 Bitcoins from Bhardwaj to set up a Bitcoin mining farm in Ukraine. When the project failed, Kundra remained in possession of the digital assets.The chargesheet noted, “Thus, it can be safely concluded that the agreement was actually between Raj Kundra and Amit Bhardwaj (his father Mahender Bhardwaj) and the argument given by Kundra that he acted as a mere mediator is not tenable.”Failure to provide wallet detailsThe ED stated Kundra’s inability to provide any Bitcoin wallet addresses, despite being given several chances since 2018. “Despite multiple opportunities since 2018, Kundra has consistently failed to provide the wallet addresses where the 285 Bitcoins were transferred,” the chargesheet said.Kundra reportedly told investigators that his iPhone X, containing wallet details, was damaged soon after his initial statement. The agency dismissed this explanation as a “deliberate attempt to destroy evidence and conceal the proceeds of crime.”The chargesheet added that Kundra’s recollection of the number of Bitcoins received strengthens the case. “The fact that Kundra remembers the exact number of Bitcoins received in five specific tranches for more than seven years since the transactions took place solidifies the fact that he was indeed the recipient of Bitcoins as a beneficial owner and not acted merely as a mediator,” it said.Besides Kundra, businessman Rajesh Satija has also been named in the chargesheet.Add as a Reliable and Trusted News Source Add Now!
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Read More News onEnforcement DirectorateRaj KundraAmit Bhardwajmoney laundering caseVariable Tech Pvt LtdDelhi PoliceMaharashtra Policebitcoin scambitcoin value

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(You can now subscribe to our Economic Times WhatsApp channel)Read More News onEnforcement DirectorateRaj KundraAmit Bhardwajmoney laundering caseVariable Tech Pvt LtdDelhi PoliceMaharashtra Policebitcoin scambitcoin value(Catch all the Business News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online….moreless

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