HomeBUSINESSRaj Kundra Shares Cryptic Post Amid Ponzi Scam Probe

Raj Kundra Shares Cryptic Post Amid Ponzi Scam Probe

New Delhi: Businessman Raj Kundra, embroiled in a Bitcoin ponzi scam probe, posted a cryptic message about staying calm on Instagram late last night, as the Enforcement Directorate (ED) seized assets worth ₹97.79 crore linked to the case.

In the Instagram Story, Kundra shared an image of a roaring lion with text that read: “Learning to stay calm when you feel disrespected is a different type of growth.”

The assets seized include a residential flat in Juhu registered in the name of Bollywood actor Shilpa Shetty, Kundra’s wife, a residential bungalow in Pune, and equity shares owned by Kundra.

Both Kundra and Shetty have denied any involvement in the case. Their lawyer, Prashant Patil, stated, “There is no prima facie case made out against my clients… We have faith in the fair investigation.”

A Ponzi scheme involves investors being promised high profits with little or no risk. Instead of investing, funds from new investors are used to pay earlier ones.

The probe centers on allegations that Kundra received 285 bitcoins from the scheme’s mastermind to establish a Bitcoin mining farm in Ukraine. However, the deal fell through, leaving Kundra with bitcoins worth over ₹150 crore.

This isn’t Kundra’s first brush with legal trouble. In 2021, he was arrested in a case related to the production and distribution of pornographic films. He was granted bail by the Supreme Court later on.

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