Has Raj Kundra Employed 'Tactics' To Transfer Rs 80 Cr Mumbai Flat To Wife Shilpa Shetty For Rs 38 Cr, Avoiding ED Scrutiny?

In 2022, amidst an Enforcement Directorate (ED) probe into a money laundering case, Raj Kundra , a businessman and the husband of Shilpa Shetty , purportedly transferred ownership of his Rs 80-crore Juhu flat to his actor-wife for Rs 38 crore.

According to sources cited in a report by Times of India, the probe agency indicated that the transfer of ownership was an internal arrangement by the couple to prevent the attachment of the property, with the belief that Kundra remains the true owner of the flat.

The ED issued a press release on Thursday, stating that the case revolves around the alleged defrauding of investors through the utilization of cryptocurrencies such as Bitcoin .

The agency alleged that Kundra received 285 Bitcoins from Amit Bhardwaj, the purported "mastermind" and promoter of the Gain Bitcoin Ponzi "scam," under the guise of establishing a Bitcoin mining farm in Ukraine.

The properties seized from the businessman include a residential flat in Mumbai's Juhu, a bungalow in Pune, and equity shares registered under Kundra's name, totaling a value of Rs 97.79 crore, as stated by the ED.

The couple's lawyer stated that there is no prima facie case established against his clients and emphasized their willingness to cooperate fully with the authorities.

“We have complete faith in the honourable judiciary. 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 the fair investigation,” atated advocate Prashant Patil in a statement.

The day after the ED's revelations, Raj Kundra posted a cryptic message on his Instagram stories: “There is a time to be a nice person. And there’s time to say enough is enough,” accompanied by a picture and a quote.