Mumbai: Businessman Raj Kundra has been summoned by a Mumbai special PMLA (Prevention of Money Laundering) and has asked him to appear on Monday, January 19, in connection with a Bitcoin scam case associated Gain Bitcoin scam mastermind Amit Bhardwaj.
The PMLA court rejected Raj Kundra's claim of being only a mediator taking into consideration the ED's chargesheet which alleged that Kundra received 285 bitcoins, worth over Rs 150 crore (at rate of Rs 52,79,755 per bitcoins as on April 16, 2024), from Bhardwaj and is still in possession of it.
Details Of The Case:
Dubai-based businessman Rajesh Satija has also been summoned and directed to appear before the PMLA court. The Enforcement Directorate (ED) had filed a supplementary prosecution complaint in September of last year, in connection to a money-laundering probe in Rs. 6,606 crore bitcoin scam involving Delhi-based company Variabletech Pvt Ltd (VTPL).
The PMLA special court, taking cognisance of the ED's complain said: “There is sufficient material to proceed against accused Nos.17 (Kundra) and accused no 18 (Rajesh Ram Satija) for the offence under section 3 punishable under section 4 of the PMLA. The ED has made a prima-facie case to take cognizance and to proceed against accused Nos.17 and 18 for the offence under section 3 punishable under section 4 of the PMLA and to issue proceedings against them.”
The court acknowledged the allegation made by the ED stating that, “Kundra has received proceeds of crime in the form of Bitcoins and he continued to be in possession and enjoyment of the said proceeds of crime. He has received 285 Bitcoins valued at Rs 150.47 crore (at rate of Rs52,79,755/- per Bitcoin as on April 16, 2024). He deliberately refused to divulge the wallet addresses and failed to surrender the proceeds of crime (285 Bitcoins) received from accused Amit Bhardwaj. He is the beneficiary of the 285 Bitcoins (proceeds of crime).”
“He has not only acquired/received the proceeds of crime from criminal activities, but to layer the transactions so as to give color of genuine transaction, he has done sale transaction with his wife at a rate which is far below market rate to disguise the origin of funds obtained by commission of criminal activities to conceal or disguise the illegal origin of the said funds and to layer it with intent to evade the legal consequences of his actions,” the court said in its order, referring to the ED’s allegations.
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