Raj Kundra granted bail in Rs 150 crore bitcoin scam case
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Businessman Raj Kundra, husband of actor Shilpa Shetty, has been granted bail by a special court under the Prevention of Money Laundering Act in Mumbai in connection with the alleged Rs 150 crore Bitcoin scam case. The development comes even as investigations into the cryptocurrency-linked financial irregularities continue.
According to reports by ANI, Kundra appeared before the PMLA court on Friday, following which the court granted him bail in the matter. The case pertains to alleged financial misconduct linked to a cryptocurrency scheme that is currently under the scanner of enforcement authorities.
However, while granting bail, the special court made it clear that the matter is far from over. As per PTI, the court observed that there is sufficient prima facie material to proceed against Kundra for offences punishable under the Prevention of Money Laundering Act. In legal terms, “prima facie” refers to the existence of enough initial evidence to move forward with trial proceedings, without yet determining guilt or innocence.
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The court has also issued a summons to Kundra, directing him to participate in further legal proceedings in the case. This means that although he has secured interim relief in the form of bail, he will be required to appear before the court as the investigation and trial process unfolds.
The alleged Bitcoin scam involves claims of large-scale financial irregularities amounting to Rs 150 crore. Authorities are probing the flow of funds and the role of various individuals linked to the cryptocurrency transactions. The Enforcement Directorate has been examining whether the proceeds involved fall under the ambit of money laundering as defined by the PMLA.
Raj Kundra has previously faced legal scrutiny in other cases as well, making this development closely watched by both legal observers and the public. So far, there has been no detailed public statement from Kundra addressing the latest court order.
source: https://www.tradingview.com/news/moneycontrol:db6869087094b:0-raj-kundra-granted-bail-in-rs-150-crore-bitcoin-scam-case/