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Shilpa Shetty And Raj Kundra Accused Of Gold Scheme Fraud: Mumbai Court Orders Investigation

Legal woes revisit Shilpa Shetty and Raj Kundra as they face allegations of cheating a Mumbai trader in a gold scheme, prompting a thorough investigation by the Mumbai Sessions Court.
02:13 PM Jun 14, 2024 IST | Swechchha
shilpa shetty and raj kundra accused of gold scheme fraud  mumbai court orders investigation
Shilpa Shetty, Her Husband Raj Kundra

Once again, legal trouble ensnares Bollywood actress Shilpa Shetty and her husband Raj Kundra as they face accusations of cheating a prominent trader in Mumbai of Rs 90 lakh in a gold scheme. The Mumbai Sessions Court has ordered a thorough investigation into the matter following a complaint lodged by bullion trader Prithviraj Saremal Kothari.

Mr. Kothari's complaint alleges that Shilpa Shetty and Raj Kundra, along with associates, orchestrated a scheme under their company, enticing investors with promises of lucrative returns on gold investments. The scheme, named 'Satyug Gold,' allegedly assured investors of gold delivery at a fixed rate, regardless of market fluctuations.

One of the leading players in the gold and bullion market, Mr. Kothari claims that the accused persuaded him to invest a substantial amount in the scheme. Assurances from Ms. Shetty, Mr. Kundra, and their associates reportedly convinced him of the scheme's legitimacy and the timely delivery of gold upon maturity.

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As described by Mr. Kothari, the scheme appeared to offer a secure investment opportunity, buoyed by the reputation of Shilpa Shetty and Raj Kundra in the entertainment and business spheres, respectively. Investors were led to believe that their investments were safeguarded by the stature of the accused individuals, only to allegedly find themselves defrauded in the end.

Earlier this year, the Enforcement Directorate had Raj Kundra under investigation in a money laundering case associated with a Ponzi scheme. The probe agency seized properties worth Rs 97.79 crore, including a Mumbai flat registered in the name of Shilpa Shetty.

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