Daders Guffaw: 285 Bitcoins, a Broken iPhone & the Curious Case of Raj Kundra!

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Key Highlights

  • Raj Kundra waltzed out on bail after Mumbai’s court agreed he had more than his share of the crypto circus.
  • The sly ED claims it was he who received a whopping 285 Bitcoins from Amit Bhardwaj while a broken iPhone tried, in vain, to hide the evidence.
  • Meanwhile, a summons flies to Dubai for Rajesh Ram Satija, while Shilpa Shetty’s property deals keep the plot thickening.

Picture Raj Kundra, the charming husband of Bollywood’s Shilpa Shetty, slipping into a court with a grin, not because he deserved it, but because the judge found no reason to keep him behind bars.

The Enforcement Directorate (ED) swears that Kundra accepted 285 Bitcoins from the alleged mastermind of the GainBitcoin shenanigans, now valued at a thumb‑toss of Rs 170 crore-roughly $19.21 million. That’s the price of a magic carpet in a Dahlian shop!

The court cited that Kundra had been a bit of a helpful sidekick since 2021, and all the paperwork was already mucked around the agency. His lawyer, Prashant Patil, insisted that if the client was already playing a part in the investigation, shackles were unnecessary.

Background of the case

This tale is tied to a grander investigation-GainBitcoin. Picture a mining project that promised the land of a thousand jubilant investors, but all it revealed was an empty sack of potatoes. The scheme, managed by Amit Bhardwaj, seemed to hand out chances at big riches while actually just peddling mirages.

The ED claims Kundra was the beneficiary of the 285 Bitcoins, supposedly to set up a mining farm in Ukraine, yet the farm never budged from the blueprint stage. So, all we have is a pile of crypto‑tokens that vanished into daylight.

Allegations against Raj Kundra

According to the ED’s chargesheet:

  • Kundra was more than a mere messenger, stepping into the role of “beneficial owner.”
  • He remembered the exact number of Bitcoins received in five tranches, seven years ago, which the ED says proves he was not a one‑time prankster.
  • She could not provide the wallet addresses where the 285 Bitcoins were transferred, citing his damaged iPhone X-an excuse, perhaps, for a simple misplace‑flagged device.
  • A “Term Sheet” signed with Amit Bhardwaj’s father, Mahendra Bhardwaj, contradicts the notion that Raj was just a bean‑stover.
  • The court observed that evidence and witness statements, “prima facie shows,” that Raj and Dubai businessman Rajesh Satija were tangled in an offence under the Prevention of Money Laundering Act (PMLA).

Court proceedings and bail

Judge R B Rote, ever the strict schoolmaster of PMLA cases, had summoned Raj in January 2026. However, Raj slipped out on bail after a plea-likely “We’re good!”-was granted.

His lawyer reminded everyone that Raj had been daisy‑allies with the ED since 2021 and the documents were all in one place, less like a secret winter hide‑and‑seek, more like someone having already unpacked their suitcase.

Involvement of Shilpa Shetty

The chargesheet touches on five flats in the silver‑lined Juhu area of Mumbai-burnt & labelled under Shilpa Shetty’s name. The ED claims they were sold for paltry sums, perhaps to launder profit from the GainBitcoin great-escape.

Both Raj and Shilpa vehemently denied the Rs 60 crore allegations. Raj proclaimed, “We categorically deny the baseless and motivated allegations being circulated….” A quashing petition was filed, yet the courtroom stage still waits for the next act.

Summing up

This case is part of the ED’s relentless quest to catch the thieves of Gains and recover the rightful spoils. Holding a bail is a triumphant chapter for Raj, but the legal opera goes on, with more performances to be called in court.

And, lest the story lose its whimsy, Rajesh Ram Satija from Dubai is on the docket, his role yet to be unveiled with the flair of a Dahl mystery. The ED remains poised, ready to sift through the tangled web of crypto transactions spun by the GainBitcoin fraud.

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2026-02-20 16:25