Businessman Raj Kundra, husband of actor Shilpa Shetty, is once again embroiled in a major legal controversy, this time over his alleged possession of a significant number of Bitcoins linked to a massive crypto ponzi scheme. The Enforcement Directorate (ED) has reportedly filed a comprehensive chargesheet before a special Prevention of Money Laundering Act (PMLA) court, making strong claims that place Kundra at the center of the financial wrongdoing. The allegations revolve around 285 Bitcoins, currently valued at a staggering ₹150.47 crore.

From Mediator to 'Beneficial Owner'

Kundra’s defense in the case, which stems from the notorious Gain Bitcoin scam masterminded by the late Amit Bhardwaj, has historically been that he merely acted as a "mediator" in a failed business deal—a proposal to set up a Bitcoin mining farm in Ukraine.

However, the ED's chargesheet directly contradicts this claim. The agency contends that based on their investigation, Kundra is the beneficial owner of the 285 Bitcoins and not a passive intermediary. The chargesheet points to the 'Term Sheet' agreement signed between Kundra and Mahendra Bhardwaj, Amit Bhardwaj’s father, as evidence that the agreement was, in fact, directly with Kundra. Furthermore, the ED noted that Kundra’s ability to recall the exact number of Bitcoins received in multiple tranches after seven years solidifies their conclusion that he was the actual recipient of the digital assets.

Concealing the Evidence: The Case of the Missing Wallet

One of the most damning aspects of the ED's chargesheet is the allegation of deliberately hidden evidence. The agency claims Kundra has consistently "failed to provide the wallet addresses" where the 285 Bitcoins were transferred, despite being given multiple opportunities since 2018.

Kundra's explanation for the missing information—that his iPhone X, which contained the wallet details, was damaged shortly after his initial statement—has been dismissed by the ED. The agency views this not as an unfortunate accident, but as a "deliberate attempt to destroy evidence and conceal the proceeds of crime." The chargesheet asserts that Kundra remains in possession and "enjoyment" of the proceeds of crime in the form of these Bitcoins. It also alleges a "genuine transaction" with his wife, Shilpa Shetty, at a "far below market rate" was done to "disguise the origin of such funds" obtained through criminal activities.

The Road Ahead in PMLA Court

With the chargesheet now officially filed, the case against Raj Kundra moves into a critical phase at the PMLA court. This formal prosecution complaint marks a significant escalation from the preliminary property attachment order the ED issued earlier in the year.

The court proceedings will now scrutinize the evidence presented by the ED—including the alleged financial layering and the non-disclosure of the Bitcoin wallet details—against Kundra's defense. The high-profile nature of the case, coupled with the large valuation of the Bitcoins and the serious implications of money laundering under the PMLA, ensures that the outcome will be closely watched across the country. The battle is now set to begin, determining the ultimate legal fate of the businessman.
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