A legal case was filed against Bollywood actors Shreyas Talpade and Alok Nath, along with 22 other people. The lawsuit alleges that they engaged in fraudulent activities under the pretense of investment in the Loni Urban Multi-State Credit and Thrift Cooperative Society. Shreyas Talpade and Alok Nath were the brand ambassadors for this society.
A case was lodged at the city police station following a complaint by Babli, who resides in Baghpat.
Legal actions involving fraud have been initiated against Alok Nath and Shreyas Talpade.
In September, the Supreme Court shielded actor Alok Nath from being detained in connection with a fraud case involving a purported dubious marketing scheme in Haryana. A panel of Justices BV Nagarathna and R Mahadevan sent a notice to the Haryana Police and others regarding the actor's petition. The bench, while issuing notices, stated, "In the meantime, the respondents should not take any coercive actions against the petitioner until the next hearing date."
Prior to this, the Supreme Court had provided actor Shreyas Talpade with protection from arrest in the same case. A total of 13 individuals, among them actors and brand ambassadors Shreyas Talpade and Alok Nath, were charged following a complaint by 37-year-old Vipul Antil from Sonipat. Antil claimed that the actors endorsed the Human Welfare Credit Cooperative Society Ltd as brand ambassadors.
ACP Murthal Ajeet Singh mentioned that the complaint targeted a multi-level marketing company currently under investigation. Regarding the two actors, the ACP informed PTI that they were reportedly the brand ambassadors, and victims were enticed to invest because of these prominent figures.
He stated that they were mentioned in the complaint, and an FIR has been filed. The investigation will now determine their involvement. The FIR was lodged on January 22 under Sections 316 (2), 318 (2), and 318 (4) of the Bharatiya Nyaya Sanhita, 2023, for several offenses, including criminal breach of trust and fraud, based on Antil's complaint. He claimed that the society engaged in a 'serious crime of deceiving the public through financial schemes.'
The complaint indicates that the society was established under the Multi-State Cooperative Societies Act and began operations in several states, including Haryana, starting on September 16, 2016. Its primary activities involved offering savings plans such as fixed deposits and recurring deposits. The society portrayed itself as a reliable and secure financial entity, engaging in extensive advertising to draw in and persuade investors. The business model relied on multi-level marketing, which swiftly expanded the investor base, according to the complaint.
The society guaranteed investors that their funds would be secure and the maturity amount would be paid promptly, promising improved returns. The complaint stated that they initially fulfilled this promise for several years. However, it further alleged that in 2023, the payment of the maturity amount to investors began to face disruptions, with the society's officials attempting to justify the delays by citing system upgrades as an excuse.
Antil stated that when investors and agents contacted the society's officials, they received misleading promises. "Over time, the society's owners ceased all communication, leaving the investors without their rightful money," he mentioned.