Shilpa Shetty & Raj Kundra Accused of Gold Investment Fraud
Mumbai’s renowned bullion trader Prithviraj Saremal Kothari has filed a complaint against Shilpa Shetty & Raj Kundra in the Mumbai Session Court for allegedly duping him of more than ?90 lakh by maki
Bollywood actress Shilpa Shetty & husband Raj Kundra are once again in the news for all the wrong reasons. Mumbai’s bullion trader (physical gold and silver usually bricks & coins trader) Prithviraj Saremal Kothari, the MD of “Riddhi Siddhi Bullions” has accused Shilpa & Raj of cheating and filed a complaint against the couple for the same in the Mumbai Session Court. According to Kothari’s complaint, Shilpa & Raj along with their associates planned a scheme under their company “Satyug Gold Private Limited” which enticed investors by promising highly profitable returns on gold investments in 2014. The scheme was called “ Satyug Gold” and assured investors of fixed-rate gold delivery regardless of its market price fluctuations.
He said the scheme was described as a secure investment and sold mostly on Shilpa & Raj goodwill. Investors were made to believe that their money was safeguarded by the couple’s reputation and stature in the entertainment and business industries. Kothari has claimed that Shilpa & Raj personally persuaded him to invest a substantial amount in the scheme by repeatedly assuring him of its (scheme) legitimacy and the timely delivery of gold upon maturity. Kothari paid ? 90,38,600 upfront under the company’s five-year plan with the assurance that he would receive 5,000 grams/ 5 kg of 24-carat gold on the maturity date which was 2nd April 2019. However, Kothari claims he didn’t receive the promised gold on or after the maturity date. The company didn’t even return the principal amount to Kothari which resulted in a reported loss of ?1.5 crore as per the current gold rates. Along with his complaint, Kothari also submitted a cover letter signed by Shilpa and an invoice of the said investment issued by “Satyug Gold Private Limited” as evidence to support his claim. The Mumbai Session Court’s Judge N.P. Mehta ordered the Mumbai Police at BKC police station to register an FIR against Shilpa & Raj under relevant sections of the Indian Penal Code (IPC) & The Maharashtra Protection of Interest of Depositors Act, 1999 for cheating & criminal breach of trust and start a thorough investigation on 11th June 2024. Shilpa & Raj have not made any statement or comment on the matter.
