Mumbai, Jan 6: A special court on Monday issued summons to businessman Raj Kundra (Ripu Sudan Kundra) in connection with the Rs 150 crore “Gain Bitcoin” Ponzi scheme money laundering case. The court directed Kundra and co-accused Rajesh Satija to appear on January 19, 2026, following submission of a supplementary prosecution complaint by the Enforcement Directorate (ED).
The case stems from multiple FIRs registered by Maharashtra and Delhi Police against Variable Tech Private Limited and several individuals, including the late Amit Bhardwaj, the mastermind of the Ponzi scheme.
During proceedings, Special Public Prosecutor Kavita Patil presented the agency’s allegations. The court formally ordered: “Issue process against accused No. 17 Ripu Sudan Kundra alias Raj Kundra and accused No. 18 Rajesh Ram Satija… for the offence under section 3 punishable under section 4 of the Prevention of Money Laundering Act.”
The ED claimed that the promoters of Gain Bitcoin collected massive sums from investors, promising 10% monthly returns. Instead of using funds for Bitcoin mining, the promoters allegedly cheated investors and hid assets in opaque online wallets. Kundra is accused of receiving 285 Bitcoins from Bhardwaj to set up a mining farm in Ukraine, which never materialised. These Bitcoins, now worth over Rs 150 crore, are alleged to have been derived from criminal proceeds.
In a related development, the ED last year provisionally attached properties worth Rs 97.79 crore, including a Juhu flat in the name of Kundra’s wife, actor Shilpa Shetty, and a Pune bungalow. In December, the court approved the ED’s request to seek legal assistance from the UAE authorities to attach immovable properties acquired using crime proceeds.
The Enforcement Directorate continues to investigate the flow of illicit assets in the case and coordinate with foreign authorities to secure property attachments.