By Grace Cyril,News18

Copyright news18

Shilpa Shetty’s husband, Raj Kundra, is once again under the scanner of the Enforcement Directorate (ED). The agency has filed a chargesheet against him, alleging that he is the beneficial owner of 285 Bitcoins valued at Rs 150.47 crore, obtained from the late crypto-scam mastermind Amit Bhardwaj. The case follows ongoing scrutiny related to financial irregularities and previous ED investigations, including the Rs 60-crore lookout notice matter.
Chargesheet filed under PMLA
The ED submitted the chargesheet before a special court under the Prevention of Money Laundering Act (PMLA). According to PTI reports, the agency stated that Kundra deliberately concealed key evidence, including Bitcoin wallet addresses, and failed to surrender the Bitcoins he received from Bhardwaj.
The ED further alleged that Kundra continued to possess and benefit from the proceeds of crime. The chargesheet claims that he conducted a “genuine transaction” with Shilpa Shetty at a “far below market rate” to disguise the origin of the funds. The agency also noted that Raj attempted to frustrate PMLA proceedings by layering the Bitcoins and presenting them as untainted.
Background of the Bitcoin case
The money-laundering probe stems from FIRs filed by Maharashtra and Delhi police against Variable Tech Private Limited, Amit Bhardwaj, and other members of the Bhardwaj family. The scheme promised high returns from Bitcoin mining but allegedly defrauded investors. Many of the Bitcoins were reportedly hidden in obscure digital wallets.
According to the ED, Raj Kundra received 285 Bitcoins from Amit Bhardwaj for a proposed Bitcoin mining farm in Ukraine. Although the project did not materialise, Kundra remains in possession of the cryptocurrency. While he claimed to act only as a mediator, the ED chargesheet states that he provided no documentary evidence to support this claim.
ED disputes Kundra’s mediator claim
The chargesheet references a signed agreement titled “Term Sheet” between Raj Kundra and Mahendra Bhardwaj, which indicates that Kundra acted as a recipient rather than a mere intermediary. The ED stated, “Thus, it can be safely concluded that the agreement was actually between Raj Kundra and Amit Bhardwaj and the argument given by Kundra that he acted as a mere mediator is not tenable.”
It further notes that Kundra recalled the exact number of Bitcoins received across five specific tranches over seven years, which, according to the ED, demonstrates his role as a beneficial owner. Despite multiple opportunities since 2018, he has not provided wallet addresses for the transferred Bitcoins. Kundra reportedly cited damage to his iPhone X as the reason for missing information, which the ED interpreted as a deliberate attempt to destroy evidence.
Other names in the chargesheet
The ED chargesheet also names businessman Rajesh Satija alongside Raj Kundra in connection with the Bitcoin transactions. The investigation continues, and the court will hear further proceedings under PMLA.
Shilpa Shetty’s lawyer denies Rs 15 crore transfer
Following reports claiming that Raj Kundra allegedly transferred around ₹15 crore to a company owned by Shilpa Shetty, the actress’ lawyer has strongly denied the claims. According to her legal team, the allegations are “fake” and were “intentionally spread” to harm her reputation.
“At the outset, we would like to state that this information is totally fake and mischievous, intentionally planted in the public domain to defame my client,” the statement read. “We will get to the bottom of this and take legal action, including criminal proceedings and civil claims, against all news articles that have been circulated to defame my client,” it added.
The lawyer further stated that “No such amount was ever received by my client Mrs Shilpa Shetty Kundra and at this stage, we cannot reveal anything further as the matter is sub judice.”
“My Clients are, however, compelled to initiate criminal and civil cases against all the fake media articles that have circulated the news without verifying the truth,” the lawyer’s statement continued.
“By intentionally defaming my client Mrs Shilpa Shetty Kundra, she is now compelled to seek protection of law enforcement agencies against such mischievous conduct of certain individuals,” it added.
Shilpa Shetty, via her lawyer, also mentioned that while she is ready to cooperate with the investigating agencies, all “defamatory articles and news shall be dealt with strongly by adopting the procedure established by law as it infringes the Fundamental Rights of my client.”
“My clients are moving the Honourable Bombay High Court for seeking relief against the defamatory campaign adopted by certain media outlets against my client Mrs Shilpa shetty Kundra. For all the articles, whomsoever have published online news about fake stories and unverified facts shall face the consequences for their actions in the court of law,” the statement concluded.
What Is Raj Kundra Rs 60 Crore Cheating Case?
In August 2025, Raj Kundra and his wife, Shilpa Shetty, were booked by the Economic Offences Wing (EOW) for allegedly cheating a Mumbai-based businessman of Rs 60.4 crore in connection with a loan-cum-investment deal. Another unknown person was also charged in connection with the incident.
The complainant, Deepak Kothari, has alleged that the couple defrauded him of over Rs 60 crore, which involved Shetty and Kundra’s now-defunct company, Best Deal TV Pvt Ltd. According to Kothari, he invested the amount between 2015 and 2023 under the pretext of expanding a business, but the money was allegedly misused for personal expenses. EOW is now investigating the case.