By – Shubhendra Singh Rajawat
The lawyer for actress Shilpa Shetty Kundra and her husband Raj Kundra reacts to the ED seizing their assets in a money laundering investigation.
Raj Kundra’s issues appear to be worsening. On Thursday, the Enforcement Directorate provisionally attached his assets worth ₹97.79 crore in its money-laundering probe relating to the alleged ₹6,600 crore Bitcoin-based ponzi fraud committed by Variable Tech Private Limited, a Singapore-based company. According to ED sources, he is accused of receiving criminal proceeds from the case.
“We shall follow the due process of law and take necessary steps as prescribed under the provisions of Prevention of Money Laundering Act to protect the liberty and property of my clients,” their counsel, Prashant Patil. There doesn’t appear to be a strong case against my clients, Mr. Raj Kundra and Mrs. Shilpa Shetty Kundra. We have total confidence in the judiciary. Even the investigating agencies might be willing to provide us justice if we submit a fair case before the Honorable Enforcement Directorate, in my opinion. We trust the impartial investigation. We are dedicated to working with the authorities when necessary.
The associated properties include a residential flat in Juhu currently owned by actor and his wife Shilpa Shetty Kundra, a residential bungalow in Pune, and equity interests in his name.
The ED claims that Variable Tech acquired 80,000 bitcoins from investors across the country by promising significant returns, and monies worth 6,606 crore were routed through nine businesses to buy properties abroad.