Raj Kundra Shares Cryptic Message Following Seizure Of Assets Worth Crores

Raj Kundra and Shilpa Shetty’s lawyer affirmed yesterday that no case had been established against them, expressing confidence in a fair investigation.

Late last night, businessman Raj Kundra posted a cryptic message about maintaining composure after the Enforcement Directorate (ED) seized assets worth ₹ 97.79 crore in connection to a Bitcoin ponzi scheme probe.
The husband of Bollywood actor Shilpa Shetty shared an Instagram Stories post featuring an image of a roaring lion with the text: “Learning to stay calm when you feel disrespected is a different type of growth.”

The assets seized from the couple include a residential flat in Juhu registered under Shilpa Shetty’s name, a residential bungalow in Pune, and equity shares owned by Mr. Kundra.

Both Raj Kundra and Shilpa Shetty have denied any involvement in the case. Their lawyer, Prashant Patil, stated in a release that there was no prima facie evidence against them, expressing confidence in a just investigation.

“A Ponzi scheme is an investment fraud where investors are lured with promises of huge profits at little or no risk. But instead of investing the money, the conmen try to lure more investors and pay initial investors with funds from the recent ones.”

The recent investigation is linked to allegations that Mr. Kundra received 285 bitcoins from the mastermind behind the Ponzi scheme, purportedly intended for establishing a Bitcoin mining farm in Ukraine. However, the deal fell through, leaving Mr. Kundra in possession of bitcoins valued at over ₹ 150 crore.

This isn’t the first time Mr. Kundra has faced a police inquiry. In 2021, he was arrested in connection to a case involving the production and distribution of pornographic films. He was later granted bail by the Supreme Court.

In response to the revelation that the Enforcement Directorate had seized properties worth Rs 97.79 crore in connection with a bitcoins fraud case, both Shilpa Shetty and Raj Kundra shared enigmatic social media posts. While their lawyer issued a statement on their behalf, Raj posted a cryptic message on his Instagram Stories. He shared a picture of a roaring lion with a caption advocating for maintaining composure in the face of disrespect.

Shilpa, on the other hand, posted an image of Sai Baba along with the caption “Om Sai Ram” and the hashtag “Surrender.”

Their lawyer’s statement emphasized their readiness to cooperate with authorities and their faith in the Indian judiciary system. They expressed confidence in a fair investigation and vowed to follow due process to protect their liberty and property under the provisions of the Prevention of Money Laundering Act.

The Mumbai zonal office of the ED provisionally attached Raj Kundra’s immovable and movable properties under the Prevention of Money Laundering Act (PMLA), 2002. Kundra and others are accused of collecting significant funds through a bitcoin scheme, promising returns of 10 percent per month to investors.

The attached properties include a residential flat in Mumbai’s Juhu registered under Shilpa Shetty’s name, a residential bungalow in Pune, and equity shares owned by Raj Kundra, as stated by the ED.