PMLA court takes cognisance of complaint against Raj Kundra, others

A special court under the Prevention of Money Laundering Act (PMLA) has taken cognisance of a second supplementary prosecution complaint filed by the ED against businessmen Raj Kundra and Rajesh Ram Satija in connection with the multi-crore GainBitcoin crypto fraud case.

The court observed that the statements on record and the material produced by the ED prima facie showed the involvement of both accused in the offence of money laundering under Section 3 of the PMLA, and ordered issuance of process against Kundra and Satija.

It also noted that movable and immovable properties linked to the case had been provisionally attached and later confirmed by PMLA Adjudicating Authority in August 2025.


The money laundering proceedings arise from predicate offences registered in Pune and Nanded against GainBitcoin founder and promoter Amit Bhardwaj and others for offences including cheating, criminal breach of trust and conspiracy under the erstwhile Indian Penal Code, along with provisions of the IT Act, the Maharashtra Protection of Interest of Depositors (MPID) Act, and the Prize Chits and Money Circulation Schemes (Banning) Act.

The ED alleged Raj Kundra received proceeds of crime from Bhardwaj in the form of 285 Bitcoins, valued at ₹150.47 crore after calculating at ₹52.79 lakh per Bitcoin as on April 16, 2024.