India’s enforcement directorate (ED) has questioned businessman Raj Kundra — the husband of Bollywood actor Shilpa Shetty — over his alleged involvement in India’s biggest cryptocurrency scam that saw Amit Bhardwaj, founder of bitcoin firm GainBitcoin, reportedly duping investors of around INR2,000 crore ($300 million).
GainBitcoin promised good returns to its investors and also awards for anyone who brings more people to the platform. Bhardwaj owned many cryptocurrency investing companies, but his most successful one had been the GainBitcoin with 100,000 investors.
Kundra’s name popped up after the ED reportedly found links between Bhardwaj and the Match Indian Poker League, a franchise-based poker tournament promoted by the businessman’s company, Viaan Industries.
Kundra has denied allegations of helping Bhardwaj launder money.
“An inquiry is underway and I am cooperating with the law enforcement agency as Bhardwaj is an acquaintance and protocol is being followed. Bharadwaj was to buy a team in the poker league and got into a contract with us. But due to non-payment, his contract was terminated. I have come as a witness to the same,” Kundra said in a statement given to Times of India.
This isn’t the first time he’s been found in murky waters. In 2013, Kundra, who owned the Indian Premier League (IPL) cricket team, Rajasthan Royals, was caught in a betting scandal and barred from any cricket-related activities for life.