Shilpa Shetty-Raj Kundra Faces Fraud Allegations Worth A WHOPPING Rs 90 Lakh! Court Orders Probe
Shilpa Shetty and her husband Raj Kundra are in legal trouble as their company is accused of cheating a bullion trader out of Rs 90 lakh in a gold scheme
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The Mumbai Sessions Court has instructed the police to investigate a complaint lodged against actor Shilpa Shetty, her husband Raj Kundra, and their company Satyug Gold Pvt Ltd. The complaint, filed by bullion trader Prithviraj Saremal Kothari, alleges that they defrauded him out of Rs 90.38 lakh through a deceptive gold investment scheme. ALSO READ: Shilpa Shetty-Raj Kundra BREAK Silence After ED Seizes Their Property In Bitcoin Scam Case - Read To Know BELOW
Kothari, the managing director of Riddhi Siddhi Bullions Ltd, approached the special court under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999, to seek justice against Satyug Gold. He claims that in March 2014, Raj Kundra announced a scheme under the name Satyug Gold, which promised to return gold at the same rate after a period of five years. According to the scheme, investors were required to make an upfront payment for gold at a discounted rate during the application period, with the promise that they would receive the agreed quantity of gold on the maturity date.
As a bullion trader, Kothari was approached by an employee of Satyug Gold to invest in the scheme. He alleges that both Kundra and Shetty personally convinced him to invest, assuring him that he would receive his gold investment as promised. Consequently, Kothari invested Rs 90,38,600 in April 2014, with the expectation of receiving 5,000 grams of 24-carat gold in April 2019. However, in January 2015, Kothari learned that Satyug Gold had discontinued the scheme. Despite this, he was assured that he would still receive the gold on the maturity date.
Kothari states that even after the maturity date, Satyug Gold failed to deliver the promised gold. This failure led him to allege that Shilpa Shetty, Raj Kundra, and their company had cheated him. Additional Sessions Judge NP Mehta, upon reviewing the complaint, determined that there was prima facie evidence of a cognizable offense. The court has now directed the BKC police station to conduct an investigation into the allegations made by Kothari. This case underscores the critical importance of transparency and accountability in investment schemes, especially those involving high-value commodities such as gold.
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