Raj Kundra Bitcoin Scam Case: Mumbai Court Grants Bail to Businessman

Legal Implications of the Raj Kundra Bitcoin Scam Case Update

In a major update for the Indian crypto world, a Mumbai court has granted bail to businessman Raj Kundra. This decision is part of the ongoing Raj Kundra Bitcoin scam case, which involves a massive ₹150 crore fraud. The case is linked to the "GainBitcoin" Ponzi scheme that reportedly cheated many investors. On Friday, February 20, 2026, the court decided that Raj does not need to stay in custody while the investigation continues.

Source: X(formerly Twitter)

The Enforcement Directorate (ED) has been looking into his roles for several years. While the court found enough initial evidence to move forward with a trial, it granted bail because he has been cooperating with officials since 2018. This news brings some relief to the businessman, though he still faces a long legal battle ahead.

Charges and Details in the Raj Kundra Bitcoin Scam Case

The main allegation in the Raj Kundra Bitcoin scam case is that he received 285 Bitcoins from the scheme's mastermind, Amit Bhardwaj. These coins were supposed to be used to build a Bitcoin mining farm in Ukraine. However, the ED claims this project never happened. Today, those 285 Bitcoins are worth more than ₹150 crore.

Key Points from the Investigation:

Missing Details: The ED says he has not shared the wallet addresses where the Bitcoins were sent.

The iPhone X Excuse: He claimed he lost important data because his iPhone X was damaged, which the ED views as a way to hide evidence.

Business Papers: Investigators found a "Term Sheet" signed by the businessman, which they say proves he was deeply involved in the deal.

Property Deals: The agency is also looking at the sale of flats in Juhu at very low prices to see if money was being laundered.

Court Conditions and Raj's Reaction

The court granted bail on a surety of ₹1 lakh. While he is out of jail, the businessman must follow strict rules. He cannot travel outside of India without asking the court first. He must also appear for all future court dates to face the charges under the Prevention of Money Laundering Act (PMLA).

As he left the court, Kundra told reporters "Satyamev Jayate," which means truth alone wins. He argued that the media has hyped up the case too much and that he has done nothing wrong. His legal team believes the charges lack merit and will continue to fight the case in higher courts.

Expert Analysis: The Future of Crypto Laws in India

The Raj Kundra Bitcoin scam case is a high-profile example of how India is fighting crypto fraud. The government is using strong money laundering laws to track digital assets and protect investors. This matter shows that even years after a transaction happens, the authorities can still use blockchain data and bank records to build a case.

Future Outlook

The next step in the Raj Kundra Bitcoin scam case will be the technical trial. The ED will try to prove where the Bitcoins went, while Kundra’s team will try to quash the charges entirely. This legal battle will likely set a precedent for how other cryptocurrency scams are handled in India in the coming years.

Your Money Your Life (YMYL) Disclaimer: This article discusses legal charges and financial fraud. It is not legal or financial advice. Cryptocurrency investments are risky and often unregulated. Always talk to a professional before investing.