Businessman Raj Kundra shares cryptic note hours after Enforcement Directorate seizes assets

Businessman Raj Kundra, the husband of Bollywood actress Shilpa Shetty, shared a cryptic post about staying calm after the Enforcement Directorate (ED) seized his assets worth Rs 970 million in a probe linked to a Bitcoin ponzi scam.

On Thursday night, Kundra took to his Instagram Stories to share a photo of a roaring lion with a text that read, “Learning to stay calm when you feel disrespected is a different type of growth.”

Both Kundra and Shetty have denied any involvement in the case. Their lawyer, Prashant Patil, stated that no case has been made out against them and they have faith in a fair investigation.

“We shall follow the due process of law and take necessary steps as prescribed under the provisions of the Prevention of Money Laundering Act to protect the liberty and property of my clients. There is no prima facie case made out against my clients Mr Raj Kundra and Mrs Shilpa Shetty Kundra. I believe when we make our fair representation before the Honourable Enforcement Directorate, even the investigation agencies may grant justice to us. We have faith in a fair investigation. We stand committed to cooperating with the authorities as and when required,” said Patil, as per ANI.

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

The latest probe alleges that Kundra had received 285 bitcoins from Amit Bhardwaj, the mastermind behind the Ponzi scheme, which he intended to use to establish a Bitcoin mining farm in Ukraine. However, the deal did not materialise, leaving Kundra with Bitcoins worth over Rs 1.5 billion.

Earlier arrests have been made in connection with the scam, with individuals presently in judicial custody, while the main accused remain absconding. Further investigation is ongoing.

This is not the first time Kundra has faced a police probe. In 2021, he was arrested in a case involving the production and distribution of pornographic films. The Supreme Court later granted him bail. (Agencies)

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