Businessman and Bollywood Heroine Shilpa Shetty’s Husband, Raj Kundra was summoned and questioned by the Enforcement Directorate (ED) in connection with a Rs 2000-crore Bitcoin scam that ED is probing. His name reportedly cropped up when Amit Bharadwaj, an accused in the case, was being questioned. It is alleged that nearly 8,000 investors lost around Rs 2,000 crore funds by transacting in this scheme.
The Income Tax Department had recently sent notices to bitcoin users who were dealing in bitcoins worth Rs 1 crore or more daily. These names were also forwarded to ED and a probe into possible money laundering and fraud was initiated. The government has already announced that Virtual Currencies are not legal tender in India and the earnings whatever so from those transactions are also liable to Income Tax and other Taxes.
Kundra is not new to controversies and was previously embroiled in the infamous IPL betting scandal. He is serving a life ban from all cricket-related activities and he is fighting the ban in courts. Rajasthan Royals, a franchise he co-owns, was also banned for two years and made a comeback in the recently-concluded IPL season. We are yet to the nature of questioning in this case.