Bollywood Actors Booked in Rs 5 Crore Fraud Case

Strategic Insights -

Bollywood actors Shreyas Talpade and Alok Nath, along with 20 others, have been booked in a fraud case after a cooperative society allegedly collected deposits from over 500 investors in western Uttar Pradesh and Haryana, promising high returns. The Loni Urban Multi-State Credit and Thrift Cooperative Society Limited operated through agents in various districts, promoting various schemes, including fixed deposits, recurring deposits, and ATM-linked policies. The total alleged fraud amounts to nearly Rs 5 crore.

Key Takeaways:

  • The Loni Urban Multi-State Credit and Thrift Cooperative Society Limited allegedly collected deposits from over 500 investors across western Uttar Pradesh and parts of Haryana.
  • The society operated through agents in various districts, including Baghpat, Shamli, and Meerut, and promoted various schemes, including fixed deposits, recurring deposits, Sukanya Yojana, Ayushman plan, savings accounts, and ATM-linked policies.
  • Victims claim the company promised to double money within a stipulated period.
  • An FIR was filed on October 20 against 22 accused under sections 318(4) and 351(2)) of the Bharatiya Nyaya Sanhita and the Banning of Unregulated Deposit Schemes Act and relevant sections of the Society Registration Act.
  • Bollywood actors Shreyas Talpade and Alok Nath were named as brand ambassadors of the cooperative society and had appeared in advertisements that lent credibility to the scheme.
  • The total alleged fraud amounts to nearly Rs 5 crore.
  • The investigators are examining the company's digital transactions, bank accounts, and mobile applications.
  • An FIR was earlier filed in Uttarakhand in the same scheme.

Statistics:

  • Rs 5 crore: The total alleged fraud amounts to nearly Rs 5 crore.
  • 500: The number of investors who were allegedly cheated by the co-operative society.
  • 22: The number of accused booked in the case.
  • 2: The number of Bollywood actors booked in the case, Shreyas Talpade and Alok Nath.
  • October 20: The date on which the FIR was filed.

Sources:

  • The Indian Express
  • Contify.com