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The Bombay High Court has temporarily halted an eviction notice issued by the Enforcement Directorate (ED) against actor Shilpa Shetty and her husband, businessman Raj Kundra. This notice, issued under the Prevention of Money Laundering Act (PMLA), pertains to an alleged Ponzi cryptocurrency scam worth a staggering Rs 6,600 crore.
The ED's action stems from their investigation into an alleged Bitcoin farming operation where they claim the accused collected Rs 6,600 crore worth of bitcoins in 2017, promising a 10 per cent monthly return to investors. As part of this investigation, the ED has already attached properties worth Rs 97.79 crore belonging to those involved in the alleged scam.
However, Shetty and Kundra's lawyer, Prashant Patil, maintains their innocence, stating that the couple has no connection to the alleged Ponzi scam. Patil emphasizes that his clients are fully cooperating with the ED's investigation, and the high court's decision to pause the eviction notice provides them an opportunity to challenge the ED's actions in court.
The ED's eviction notice had sought to take possession of the couple's properties, including their residence and farmhouse, by October 13. These properties include a flat in Juhu, a bungalow in Pune, and equity shares held in Kundra's name. The high court has granted the couple time to file an appeal before the Appellate Tribunal in Delhi, where they can seek further relief against the ED's actions.
This case highlights the complexities of cryptocurrency-related investigations and the challenges faced by individuals accused of involvement in such schemes. It remains to be seen how the case will proceed and whether the ED will be able to prove the couple's involvement in the alleged Ponzi scam.
Source: Bombay High Court pauses ED's eviction notice to Shilpa Shetty, Raj Kundra