Mumbai’s special PMLA court has issued summons to businessman Raj Kundra in the high-profile Gain Bitcoin Ponzi scam. The court took cognizance of the Enforcement Directorate’s (ED) chargesheet, ordering Kundra and Dubai-based Rajesh Satija to appear before it.
The ED filed a supplementary chargesheet in September 2025 under the Prevention of Money Laundering Act, naming both as accused. Investigations reveal that scam mastermind Amit Bhardwaj handed over 285 Bitcoins to Kundra for setting up a mining farm in Ukraine. Though the deal fell through, ED claims Kundra still holds these Bitcoins, now valued over ₹150 crore.
Kundra insists he was merely a middleman, but lacks documents to prove it. A ‘term sheet’ between Kundra and Mahendra Bhardwaj allegedly points to a direct deal with Amit. ED notes Kundra’s precise recall of the five installments received over seven years, undermining his intermediary claim.
Despite multiple opportunities since 2018, Kundra failed to disclose wallet addresses for the transferred Bitcoins, citing a damaged iPhone X. ED labels this as deliberate evidence tampering and concealment of crime proceeds.
The court now seeks responses from both accused as the case intensifies against crypto fraud networks exploiting unsuspecting investors.