Bollywood actress Shilpa Shetty's husband,Raj Kundra, has been granted bail in the Rs 150 crore Bitcoin scam case. The actress' husband appeared before the PMLA court in Mumbai on February 20. The businessman got relief in the case by a special court order under the Prevention of Money Laundering Act in the city. According toANI, Raj's case is about an alleged financial misconduct linked to a cryptocurrency scheme. It is currently under the scanner of enforcement authorities. That said, while Raj was being granted bail, the special court order maintained that the matter is far from over.
Raj Kundra appeared before the PMLA court after summons were issued to him in the Bitcoin scam case. The businessman had filed bail plea in this matter. It was scheduled for hearing at 1 pm today. According toPTI, the court observed that there is sufficient prima facie available to proceed against Raj for punishable offences under the Prevention of Money Laundering Act.
The summons were also issued to Raj, directing him to participate in further legal proceedings in the matter. Although he has been granted interim relief in form of bail, Shilpa's husband will be required to appear before the court as the trial and investigation unfolds.
The Enforcement Directorate filed a case alleging that illegal transactions amounting in crores were carried out through an alleged Bitcoin-related investment scam. The investors were apparently duped through this network by promising huge profits, the investigating agency claimed. It's also reported that the money was later laundered through cryptocurrency.
Raj's role is being investigated in this network by the ED. It is also being investigated whether the businessman earned any financial benefit from it.
The ED has also alleged that Shilpa's husband, Raj, received 285 Bitcoins from the alleged mastermind of the scam for setting up Bitcoin mining farm in Ukraine. However, since the deal did not materialise, the businessman is still said to be in possession of285 Bitcoinsamounting to Rs 150 crore, the investigating agency claimed.
According to a charge sheet filed, Raj claimed that he only acted as a mediator. But there was no documentary evidence to prove the same. The charge sheet further mentioned that an agreement named 'term sheet' was signed between Raj and the alleged mastermind's father. And considering that, the businessman's claim of only being a mediator was not tenable.
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