Taking to LinkedIn on May 29, Kundra accused the promoter of money laundering using offshore accounts and hiding financial transactions.
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The Rajasthan Royals franchise may soon find itself in the middle of a major controversy. Raj Kundra, former co-owner of the IPL team, has announced he will release explosive documents alleging financial misconduct by a key promoter of the team.
Taking to LinkedIn on May 29, Kundra accused the promoter of money laundering using offshore accounts and hiding financial transactions.
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He also hinted at the suppression of his rights as a co-promoter and claimed there was a broader pattern of manipulation in shareholder dealings.
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In his post, Kundra wrote, “I will soon be releasing documented evidence exposing serious financial misconduct, money laundering through offshore structures and hidden transactions involving a key promoter of the Rajasthan Royals.”
He went on to claim the documents would “speak for themselves.”
To make matters more serious, Raj Kundra has scheduled a press conference for Monday, June 2, where he promises to present this evidence to the public.
The timing and tone of his announcement have sparked speculation that another crisis could be brewing for the Royals.
Kundra tagged the Board of Control for Cricket in India (BCCI) in his post, subtly nudging the sport’s top authority into the spotlight. He also shared an image captioned “Karma Bol,” signaling that he intends to reveal what he sees as long-buried truths.
For context, Kundra and his wife, Bollywood actor Shilpa Shetty, invested in Rajasthan Royals back in 2009, purchasing a 11.7% stake for approximately $15.4 million. However, their association with the team ended in 2015, following a series of controversies involving spot-fixing and betting allegations.
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