Bollywood actors Shreyas Talpade and Alok Nath are back in the headlines because the actors, along with 22 others, have been named in a fresh fraud case filed in Baghpat, Uttar Pradesh. The allegation: duping investors in the Loni Urban Multi-State Credit and Thrift Cooperative Society.
According to police reports, over 500 people fell victim to this alleged scam losing a staggering Rs 5 crore. Shreyas Talpade and Alok Nath were the society’s brand ambassadors lending their star power to attract unsuspecting investors.
The complainant is a local resident named Babli. She said investors were promised to double their money within five years.
Babli’s statement to the police paints a rather troubling picture. She explained that a young man from Bijol village introduced the society to local residents. The ‘fraud’ claimed it was registered with the Ministry of Agriculture and Cooperatives. Persuaded by these assurances, Babli invested Rs 1.90 lakh from the Baghpat center to the Samalkha branch in Haryana.
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This trouble erupted when on November 27, 2024 the society abruptly shut down its transaction software. This left the investors unable to access their money. Further investigations revealed that the society had recruited over 25 agents across the district to attract these investors earlier. For this, they had collected a total of more than Rs 5 crore from the unsuspecting public.
This isn’t the first time the actors have faced such allegations. Earlier this year, in February, an FIR was lodged at the Gomti Nagar Police Station in Lucknow against Shreyas Talpade, Alok Nath, and five others for allegedly cheating 45 investors of Rs 9.12 crore.
Police in Baghpat are actively investigating the latest case, gathering statements from investors and tracing the society’s financial activities.