Raj Kundra Summoned in Bitcoin Scam: Court Orders Trial to Proceed

• A special PMLA court in Mumbai has issued summons to businessman Raj Kundra in connection with the Gain Bitcoin Ponzi scam.
• Dubai-based businessman Rajesh Satija has also been summoned in the same case, following a supplementary charge sheet filed by the ED.
• The ED alleges that Raj Kundra received 285 Bitcoins from scam mastermind Amit Bhardwaj for a mining farm in Ukraine, a project that was never completed.
• These 285 Bitcoins, currently valued at over 150 crore rupees, are allegedly still with Kundra, who claims to be merely an intermediary.
• The ED suspects Kundra is concealing evidence, citing his inability to provide wallet addresses and his iPhone X malfunctioning as a possible excuse.

Why It Matters: Raj Kundra faces trial in a Bitcoin scam after a Mumbai court summoned him over alleged retention of 285 Bitcoins.