Raj Kundra Reacts After ED Seizes His Assets Worth Rs 97 crore

Businessman Raj Kundra and his wife Shilpa Shetty were again embroiled in controversies when the ED seized properties in a Bitcoin Fraud Case on Thursday morning. They seized his assets worth Rs 97.79 crore as part of an investigation into a Bitcoin Ponzi scheme under the Prevention of Money Laundering Act, of 2002. Raj took the Instagram story and shared two cryptic posts. 

In his first post, he shared an image of a roaring lion along with a text that said Learning to stay calm when you feel disrespected is a different type of growth. He shared one more thought that said, "There is a time to be a nice person and there's a time to say enough is enough."

According to the FPJ report, the central probe agency initiated investigation based on FIRs registered by Maharashtra and Delhi Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and number of MLM agents, wherein it has been alleged that they had collected huge amounts of funds in the form of Bitcoins (worth Rs 6600 Crore in 2017 itself) from the gullible public with the false promises of 10% per month return in the form of cryptocurrency.

ED investigation revealed that Raj Kundra received 285 Bitcoins from the mastermind and promoter of the Gain Bitcoin Ponzi Scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine. The Bitcoins were supposed to be used for mining, and investors were supposed to get huge returns in Crypto assets. However, the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets. The said Bitcoins were sourced out of proceeds of crime collected by Amit Bhardwaj from gullible investors.