Raj Kundra Summoned in Major Cryptocurrency Scam Case

In a significant development, Raj Kundra has been summoned by a special court in Mumbai regarding his alleged involvement in the GainBitcoin cryptocurrency scam, which has defrauded investors of Rs 2,000 crore. The Enforcement Directorate has named him as an accused, alongside Dubai-based businessman Rajesh Satija. Both are required to appear in court on January 19. The case revolves around Amit Bhardwaj, who is accused of cheating investors by promising high returns through cryptocurrency mining. The Enforcement Directorate claims Kundra received 285 bitcoins from Bhardwaj, which are considered proceeds of crime. This article delves into the details of the case and the implications for Kundra.

By Narendra Chaudhary Jan 6, 2026, 14:55 IST

Court Proceedings in Mumbai

A special court in Mumbai has summoned businessman Raj Kundra regarding his involvement in the GainBitcoin cryptocurrency scam, which amounts to Rs 2,000 crore. The Enforcement Directorate has named him as an accused in this case, according to reports.

Additionally, Dubai-based entrepreneur Rajesh Satija has also been summoned. Both individuals are required to appear in court on January 19.

Special judge RB Rote acknowledged a supplementary chargesheet submitted by the Enforcement Directorate, which led to the summons for Kundra and Satija under the Prevention of Money Laundering Act.

Both were implicated in the case following the supplementary chargesheet filed by the investigative agency in September.

Amit Bhardwaj, the founder of GainBitcoin, is accused of defrauding investors by offering unrealistic returns through cryptocurrency mining.

As per the Delhi Police, Bhardwaj allegedly orchestrated a multi-level marketing scheme, enticing investors to invest bitcoins with the promise of high returns, which he never delivered. He subsequently fled the country.

Bhardwaj was located in Bangkok and arrested in April 2018.

The Enforcement Directorate claims that Kundra received 285 bitcoins from Bhardwaj, which they categorize as proceeds of crime.

These bitcoins were reportedly intended for establishing a mining farm in Ukraine, a project that never came to fruition. The agency asserts that Kundra still possesses the cryptocurrency, which is currently valued at over Rs 150 crore.

In his testimony, Kundra stated that Bhardwaj contacted him via social media and that he merely facilitated the transfer of the bitcoins for an Israeli associate.

However, the Enforcement Directorate noted that Kundra failed to provide any substantial documentation to support his claims.

Moreover, the agency accused Kundra of not supplying wallet addresses to trace the bitcoins, citing that his phone was damaged at the time.

This has led the agency to believe that Kundra is intentionally trying to hide the proceeds of crime.

In 2024, the agency provisionally attached assets worth Rs 97.7 crore, which includes five residential flats in Juhu valued at Rs 82.7 crore owned by Kundra and his wife, actress Shilpa Shetty, along with a bungalow near Pawna dam in Pune valued at Rs 11.1 crore.

The agency alleges that Kundra and Shetty engaged in a 'sale transaction' of the Juhu flats without any change in ownership, transferring money between their joint accounts to protect the properties from being seized.