Bollywood star Shilpa Shetty and her businessman husband, Raj Kundra, are facing serious allegations of defrauding a prominent bullion trader of Rs 90 lakh. The Mumbai Sessions Court has directed the police to launch a detailed investigation into the case filed by the complainant.
The accusations come from Prithviraj Saremal Kothari, a well-known figure in the Mumbai gold trading community. According to Mr. Kothari’s complaint, Shilpa Shetty and Raj Kundra, along with their associates, devised a scheme under their company, promising substantial returns on gold investments. The scheme, named “Satyug Gold,” allegedly guaranteed investors gold delivery at a fixed rate, irrespective of market price fluctuations.
Mr. Kothari, a leading name in the gold and bullion market, states that he was convinced to invest a significant sum in the scheme by assurances from Ms. Shetty, Mr. Kundra, and their associates. He believed in the legitimacy of the scheme and the timely delivery of gold based on their reputations.
However, Mr. Kothari claims that he did not receive the promised gold upon the maturity date of April 2, 2019, despite paying an upfront amount of ₹ 90,38,600. He has presented documents, including a cover letter signed by Shilpa Shetty Kundra and an invoice from Satyug Gold Private Limited, to support his allegations.
The scheme, as outlined by Mr. Kothari, seemed to present a secure investment opportunity, bolstered by the high-profile names of Shilpa Shetty and Raj Kundra. Investors were led to believe that their investments were protected by the prominence of the accused, only to allegedly find themselves defrauded.
The court’s decision to order an investigation reflects the severity of the allegations and the need for a thorough examination of the facts. The outcome of this investigation will be closely watched, given the high-profile nature of those involved and the substantial amount of money in question.
This case serves as a cautionary tale for investors, highlighting the importance of thorough due diligence before investing in schemes, regardless of the names associated with them.
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