Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, have been accused by Prithviraj Saremal Kothari, a prominent bullion trader in Mumbai, of orchestrating a fraudulent scheme. According to the complaint filed, Shilpa Shetty, Raj Kundra, and their associates allegedly operated a company through which they enticed investors with promises of substantial returns on investments in gold.
However, it’s claimed that these promised returns were not delivered as per agreements, leading to accusations of cheating. In response to the seriousness of these allegations, the Mumbai Sessions Court has intervened, directing a comprehensive investigation into the matter to determine the veracity of the claims made against them.
Alleged Fraud by Shilpa Shetty and Raj Kundra
The Claims
Prithviraj Saremal Kothari, a prominent figure in the gold market, has presented documents to support his accusations against Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra. These documents include a letter signed by Shilpa Shetty Kundra and an invoice from Satyug Gold Private Limited. Under their company, they allegedly launched a scheme named “Satyug Gold” that targeted investors with promises of high profits from gold investments. They assured investors like Mr. Kothari that they would receive gold at a fixed rate, regardless of market changes.
The Scheme
According to Mr. Kothari, the scheme promoted by Shilpa Shetty and Raj Kundra’s company, Satyug Gold, seemed like a secure investment opportunity. Investors were attracted by the reputation of Shilpa Shetty in entertainment and Raj Kundra in business. They believed their investments were safe because of the stature of the accused individuals.
Alleged Deception
However, investors, including Mr. Kothari, claim they were deceived. Despite assurances, they allegedly did not receive the promised returns or gold when the maturity date arrived. Mr. Kothari claims he paid ₹90,38,600 upfront but did not get what he was promised.
Raj Kundra and Shilpa Shetty in Money Laundering Case
Earlier this year, the Enforcement Directorate scrutinized businessman Raj Kundra for his involvement in a money laundering case connected to a Ponzi scheme.
The Enforcement Directorate, a probe agency, seized properties totaling ₹97.79 crore as part of their investigation. This includes a flat in Mumbai registered under the name of Shilpa Shetty, Raj Kundra’s wife.
The case suggests that Raj Kundra and others may have been involved in activities where illegally obtained money was passed through various transactions to hide its origins. The Enforcement Directorate’s actions are part of uncovering and preventing such financial crimes. Investigations are ongoing to determine the extent of Raj Kundra’s involvement and to ensure accountability for any illegal activities uncovered during the probe.
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