Shilpa Shetty & Raj Kundra: ED Seizes Assets Worth 97 Crores, Including Actress’s Lavish Bungalow. The Enforcement Directorate (ED) has made a significant move against businessman Raj.
Shilpa Shetty & Raj Kundra: ED Seizes Assets Worth 97 Crores, Including Shilpa Shetty’s Lavish Bungalow
On Thursday, properties worth Rs. 97 crore belonging to Kundra were seized. The ED has confiscated a flat and a bungalow registered under the name of the actress. Kundra’s involvement in a pornography case in 2021 led to his arrest, though he was subsequently released on bail after a few months.
Under the Prevention of Money Laundering Act (PMLA) of 2002, this action has been initiated against Raj Kundra. The ED has additionally confiscated a flat in Juhu registered under actress Shilpa Shetty’s name, a bungalow in Pune, and several equity shares owned by Shilpa’s Husband Raj.
The ED is currently probing a money laundering case involving Raj. He is under investigation by the ED regarding his involvement in a cryptocurrency-related matter. Conducting business transactions using cryptocurrencies like Bitcoin is prohibited in India. However, the investigative agency claims that Raj manipulated transactions by engaging in business activities using cryptocurrencies.
ED, Mumbai has provisionally attached immovable and movable properties worth Rs. 97.79 Crore belonging to Ripu Sudan Kundra aka Raj Kundra under the provisions of PMLA, 2002. The attached properties include Residential flat situated in Juhu presently in the name of Smt. Shilpa…
— ED (@dir_ed) April 18, 2024
In 2018, the Enforcement Directorate initiated an investigation into Raj Kundra’s involvement in a Rs 2000 crore Bitcoin scam. An ED official stated that Raj was being questioned in connection with a case filed at the Thane Crime Branch. At that time, it remained uncertain whether Raj had any culpability in the scam or if he was a victim, as per the official. However, the recent confiscation of property may exacerbate Raj Kundra’s legal challenges.
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