The Enforcement Directorate (ED) has filed a chargesheet against businessman Raj Kundra in connection with the alleged Bitcoin scam. In the latest reports on the Gain Bitcoin Ponzi scam, the ED has claimed that the businessman was allegedly the “beneficial owner” and not merely a ‘mediator’ of 285 bitcoins valued at over Rs 150 crore
Chargsheet filed against businessman
According to PTI, the chargesheet, recently submitted before a special Prevention of Money Laundering Act (PMLA) court, alleges that Kundra received the Bitcoins from late crypto-scam mastermind Amit Bhardwaj for setting up a mining farm in Ukraine. When the project failed to materialise, Kundra allegedly retained the bitcoin.“Despite multiple opportunities since 2018, Kundra has consistently failed to provide the wallet addresses where the 285 Bitcoins were transferred,” the ED stated, as reportedly PTI.
Kundra accused of concealing evidence
In his initial statement, he allegedly claimed his iPhone X, which contained key data, was damaged. The agency is now calling it “a deliberate attempt to destroy evidence and conceal the proceeds of crime.”The agency also accused the businessman of concealing crucial evidence, including wallet addresses. He was also accused of trying to disguise the origin of illicit funds through a transaction with his actor-wife Shilpa Shetty. The chargesheet stated the deal was executed at “far below market rate” in an attempt to disguise the origin of such funds ‘obtained by commission of criminal activities’.
Mediator or beneficial owner
The ED also contested Kundra’s claim of being only a mediator. “The agreement titled ‘Term Sheet’ was signed between him and Mahendra Bhardwaj,” the chargesheet noted and added, “Thus, it can be safely concluded that the agreement was actually between Raj Kundra and Amit Bhardwaj (his father Mahender Bhardwaj) and the argument given by Kundra that he acted as a mere mediator is not tenable.”Investigators also pointed out that the fact that Kundra remembers the exact number of Bitcoins received in five specific tranches for more than seven years since the transactions took place “solidifies the fact that he was indeed the recipient of Bitcoins as a beneficial owner and not acted merely as a mediator”, the chargesheet said.According to the ED, the Bitcoins were meant for mining operations that would generate high returns for investors.
Others named in chargesheet
Alongside Kundra, businessman Rajesh Satija has also been named in the chargesheet.
