A special court in Mumbai, operating under the Prevention of Money Laundering Act (PMLA), has issued summons to businessman Raj Kundra, the husband of Bollywood actor Shilpa Shetty. The summons is connected to the high-profile GainBitcoin cryptocurrency fraud and an associated money-laundering investigation. Kundra has been directed to appear before the court on January 19, 2026.
The Court's Order and Key Allegations
The summons follows the court's decision to take cognisance of a supplementary chargesheet recently filed by the Enforcement Directorate (ED). In its order, the special judge stated, “A prima facie case has been made out to take cognisance and to proceed against accused Nos. 17 and 18 (Kundra and Rajesh Satija) for the offence under Section 3 … of the PMLA and to issue process against them.” The court also issued summons to Dubai-based businessman Rajesh Ram Satija for his alleged involvement.
The core of the matter revolves around the GainBitcoin scheme, a cryptocurrency investment and mining operation that authorities allege defrauded thousands of investors nationwide. The scheme, reportedly orchestrated by the late Amit Bhardwaj, lured people with promises of substantial returns from Bitcoin mining that never materialized.
Proceeds of Crime and Property Links
According to the ED's chargesheet, a central allegation against Raj Kundra is that he received proceeds of crime amounting to 285 Bitcoins from Amit Bhardwaj. At the time the agency assessed these assets, their value was estimated to be a staggering more than Rs 150 crore. The ED maintains that these Bitcoins were directly linked to criminal proceeds from the GainBitcoin scam and that Kundra held them without providing a satisfactory explanation for a legitimate source.
The agency's probe suggests Kundra's role was not limited to being a mere beneficiary. The ED alleges he acted as a “beneficial owner” in the arrangement. Investigators have also raised concerns about a property transaction involving five flats in Mumbai’s upscale Juhu area, which are registered in Shilpa Shetty's name. The ED claims these flats were sold at a price significantly below market value, indicating a potential attempt to integrate illicit funds into the legitimate economy.
Kundra's Defense and Pending Legal Challenge
Earlier, Raj Kundra had publicly denied all allegations against him and his wife. In a statement, he rejected the Rs 60 crore fraud allegations that have been circulating. He asserted that the issues were being unfairly given a criminal colour without any lawful foundation. The statement clarified, “We categorically deny the baseless and motivated allegations being circulated... A Quashing Petition has already been filed before the Hon’ble High Court and is pending adjudication.”
This legal development marks a significant escalation in the long-running investigation into one of India's most prominent cryptocurrency fraud cases. The court's summons sets the stage for a detailed judicial examination of the evidence gathered by the Enforcement Directorate against the accused individuals.
