Shilpa Shetty and Raj Kundra Accused of Rs 90 Lakh Bullion Fraud, Court Orders Probe

A Mumbai court has ordered police to investigate actress Shilpa Shetty Kundra, her businessman husband Raj Kundra, and their company Satyug Gold Pvt Ltd on charges of cheating a bullion trader in a gold investment scheme. The complaint alleges that Prithviraj Saremal Kothari, managing director of Riddhi Siddhi Bullions Ltd, was promised a return of 5000 grams of 24-carat gold at the initial purchase rate after five years under the Satyug Gold scheme launched in March 2014. Kothari invested Rs 90.38 lakh based on these assurances. Shilpa Shetty-Raj Kundra's Lawyer Prashant Patil States 'No Prima Facie' Against Clients Amid ED Property Seizure, Read Full Statement Here.

However, according to the complaint, Satyug Gold discontinued the scheme in January 2015. Despite demands, Kothari alleges he neither received the promised gold on the maturity date nor his initial investment. As per reports, he requested a refund of his money. Further, he asserted that he was given assurances that he would indeed receive the gold as initially promised upon the scheme's maturity. Money Laundering Case: ED Attaches Flats in Mumbai and Pune, Shares Worth Rs 98 Crore of Actor Shilpa Shetty and Her Husband Raj Kundra.

Shilpa Shetty and Raj Kundra in Legal Trouble

Consequently, the complainant reportedly accused the involved party of cheating him. Upon review, Additional Sessions Judge NP Mehta found that a prima facie cognisable offence had been committed. Subsequently, the court directed the BKC police station to conduct an investigation into the allegations outlined in Kothari's complaint.

(The above story first appeared on LatestLY on Jun 14, 2024 11:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).