Raj Kundra and Shilpa Shetty accused of cheating trader in gold scheme
The Mumbai Sessions Court has initiated a comprehensive inquiry into the allegations following a complaint lodged by bullion trader Prithviraj Saremal Kothari
Shilpa Shetty Faces Fraud Charges in Mumbai
Renowned Bollywood actress Shilpa Shetty and her spouse Raj Kundra are once again involved in a legal dispute. They are accused of defrauding a well-known Mumbai trader of Rs 90 lakh through a gold investment scheme. The Mumbai Sessions Court has initiated a comprehensive inquiry into the allegations following a complaint lodged by bullion trader Prithviraj Saremal Kothari.
According to Mr. Kothari’s complaint, the couple, along with their partners, devised a scheme under their company that guaranteed attractive returns on gold investments. The initiative, named ‘Satyug Gold,’ assured investors of a fixed rate for gold delivery, irrespective of market volatility.
Mr. Kothari, a significant figure in the gold and bullion market, alleges that he was enticed to invest a considerable sum in the scheme. The repeated reassurances from Raj, Shilpa, and their partners led Mr. Kothari to believe in the scheme’s authenticity.
However, when the scheme’s maturity date arrived on April 2, 2019, Mr. Kothari asserts that he did not receive the promised gold despite making an upfront payment of Rs 90,38,600. He has provided supporting documents, including a cover letter signed by Shilpa Shetty Kundra and an invoice from Satyug Gold Private Limited, to substantiate his claim.
In recent times, the couple leveraged their reputation and standing in the entertainment and business sectors to promote the investment scheme. This marketing strategy led investors to trust in the scheme offered by Raj and Shilpa, but unfortunately, the investors ended up being swindled.
In a separate incident earlier this year, Raj Kundra attracted the attention of the Enforcement Directorate due to his involvement in a money laundering case connected to a Ponzi scheme. The investigative agency confiscated properties valued at Rs 97.79 crore, including a Mumbai apartment registered in Shilpa Shetty’s name.
You might also be interested in: ED seizes Raj Kundra’s assets worth Rs 97 crore, Shilpa Shetty’s beloved Juhu flat also seized
