A special court under the Prevention of Money Laundering Act (PMLA) in Mumbai has reportedly issued a summons to businessman Raj Kundra after taking cognisance of a supplementary chargesheet filed by the Enforcement Directorate (ED) in the GainBitcoin cryptocurrency fraud case. As per media reports, Kundra has been directed to appear before the court on January 19, 2026.
The development marks another significant step in the ED’s long-running investigation into the GainBitcoin scheme, one of India’s largest alleged cryptocurrency scams. The Bitcoin based investment operation was allegedly run by the late Amit Bhardwaj and his brother Vivek Bhardwaj, and is estimated to have defrauded investors of thousands of crores across multiple states.
According to the ED’s allegations, Raj Kundra is a beneficiary of proceeds generated through the scheme. Investigators have reportedly claimed that Kundra received 285 Bitcoins in 2017 from the main accused for setting up a Bitcoin mining operation in Ukraine. However, the proposed mining project allegedly never materialised.
The agency has further stated that Kundra failed to provide wallet addresses or sufficient documentary evidence to establish that he acted merely as a facilitator. Based on this, the ED has maintained that Kundra exercised effective control over the Bitcoins, making him a “beneficial owner” under the provisions of the PMLA. At current market valuations, the Bitcoins in question are estimated to be worth over ₹150 crore.
Earlier, the ED had provisionally attached assets worth more than ₹97 crore linked to Kundra as part of the same probe. These included a residential property in Mumbai and cryptocurrency holdings. Kundra has consistently denied any wrongdoing and has claimed that he was unaware of the fraudulent nature of the GainBitcoin scheme.
The summons adds to the ED’s broader crackdown on crypto-related financial crimes in India, as enforcement agencies continue to tighten scrutiny over digital asset transactions and alleged laundering of illicit funds.
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