A special court in Mumbai has issued a summons to businessman Ripu Sudan Kundra, widely known as Raj Kundra, in connection with the multi-crore "GainBitcoin" cryptocurrency Ponzi scheme. The order, delivered on Monday (January 5) by Special Judge RB Rote, requires Kundra and co-accused Dubai-based businessman Rajesh Satija to appear before the court on January 19, 2026. ‘Role Chahiye Aapko?’: Raj Kundra Silences Troll Asking Him To Make Adult Movies and Series Amid His INR 60 Crore Cheating Case (View Post).

The summons follows the court's cognisance of a supplementary chargesheet filed by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA). The agency alleges that Kundra was a beneficial owner of illicit crypto assets and not merely a "mediator" as he has previously claimed.

Allegations of Misappropriated Bitcoin

The ED’s investigation centres on allegations that Kundra received 285 Bitcoins from Amit Bhardwaj, the late mastermind behind the GainBitcoin scam. According to the agency, these funds, currently valued at approximately INR 150 crore, were intended for establishing a Bitcoin mining farm in Ukraine.

Investigators claim the deal never materialised, yet Kundra remained in possession of the digital assets. The chargesheet further alleges that Kundra has consistently failed to provide wallet addresses to trace the coins, citing a damaged mobile phone as the reason for the missing data.

Scope of the GainBitcoin Scam

The GainBitcoin case is one of India’s largest suspected crypto frauds, estimated to involve roughly INR 6,600 crore. The scheme, operated through a firm called Variable Tech Private Limited, allegedly lured more than 8,000 investors with promises of a 10% monthly return on Bitcoin investments.

Instead of using the funds for legitimate mining operations, the ED contends that the promoters diverted the Bitcoin into obscure online wallets and used the proceeds to acquire properties across India and abroad. Shilpa Shetty Denies Involvement in Best Deal TV Case, Calls Allegations Baseless.

Raj Kundra Denies Involvement

Raj Kundra has denied any wrongdoing, saying that he was just a middleman. Authorities have seized nearly INR 98 crore in assets linked to the businessman, including five residential flats in Juhu and a bungalow in Pune.

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(The above story first appeared on LatestLY on Jan 06, 2026 04:36 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).