Shilpa Shetty, Raj Kundra face ₹90 lakh cheating allegations over gold scheme, Mumbai court seeks police probe

Actor Shilpa Shetty and businessman Raj Kundra face police scrutiny for allegedly defrauding an investor in a gold scheme. A Mumbai court indicated a cognizable offence against them and their company Satyug Gold Private Limited.

Livemint
First Published14 Jun 2024, 04:05 PM IST
Actor Shilpa Shetty with husband and businessman Raj Kundra in Mumbai.
Actor Shilpa Shetty with husband and businessman Raj Kundra in Mumbai. (PTI)

Actor Shilpa Shetty and businessman Raj Kundra are facing allegations of defrauding an investor in a gold scheme and are under police scrutiny. 

The accusations surfaced following a complaint filed by Prithviraj Kothari, managing director of Riddhi Siddhi Bullions. A Mumbai court hearing the case said on Thursday that there appears to be a prima facie cognizable offence against the duo and their company, Satyug Gold Private Limited

Kothari had invested 90,38,600 in Satyug Gold under a 5-year plan that promised delivery of 5,000 grams of 24-carat gold in April 2019. The plan required investors to make full payment for the gold at a discounted rate upfront at the time of application. However, according to his complaint, the promised amount of gold was never delivered

The complaint accuses the Kundra couple, along with two directors and an employee of the firm, of conspiring to operate "an utterly bogus scheme." The document further alleges that they have committed offences punishable under relevant provisions of the IPC, including cheating and criminal breach of trust

Additional Sessions Judge N. P. Mehta has directed the BKC police station to investigate the allegations made by Kothari Bullions. The Mumbai Police has also been instructed to register an FIR for cheating and criminal breach of trust “if any cognizable offence is found to have been committed by the accused persons”.

ALSO READ: Raj Kundra linked to Bitcoin Ponzi scam: All you need to know about 6,600 crore investment fraud case

The development comes just weeks after the Enforcement Directorate attached properties valued at 97.79 crore and equity shares belonging to the couple under the Prevention of Money Laundering Act. 

The investigation stems from multiple FIRs filed by the Maharashtra Police and Delhi Police against various individuals and entities involved in a Bitcoin Ponzi scam

The scam allegedly collected significant funds from the public under false promises of high returns, concealing ill-gotten gains in obscure online wallets.

(With inputs from agencies)

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First Published:14 Jun 2024, 04:05 PM IST
HomeNewsIndiaShilpa Shetty, Raj Kundra face ₹90 lakh cheating allegations over gold scheme, Mumbai court seeks police probe

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