Shilpa Shetty, Raj Kundra Accused Of Defrauding Investor Of ₹90 Lakh With Gold Scheme

Shilpa Shetty and her husband, businessman Raj Kundra, have been accused of cheating a trader in Mumbai. According to reports, a complaint filed by Bullion trader Prithviraj Saremal Kothari prompted the Mumbai Sessions Court to order a thorough investigation into the matter.

According to Kothari, Shilpa, Raj and their other associates in a firm lured investors, including him, on the pretext of lucrative returns on investment in gold. However, at the time of maturity of the scheme named Satyug Gold, Kothari alleged that he received no payment on his investment of over ₹90 lakh.  

Court orders probe in the matter

After receiving the complaint from Prithviraj Saremal Kothari against Shilpa Shetty, Raj Kundra and other associates, the Mumbai Sessions Court has ordered a thorough inquiry in the matter. Kothari shared that the celebrity couple's reputation in the entertainment, showbiz and business sector proved to be a factor trust for him based on which he invested ₹90,38,600 in the Satyug Gold scheme. The investors were promised lucrative returns in exchange of investment in gold. 

However, when the scheme matured in April 2019, they did not receive the promised returns and found themselves defrauded. According to Kothari, assurances from Shilpa, Raj and their associates reportedly convinced him of the scheme's legitimacy and the timely delivery of gold upon maturity. The investors were promised a fixed return on their investment, despite market fluctuations.

When Shilpa's Mumbai flat was seized by ED

Earlier this year, Raj Kundra landed on the radar of the Enforcement Directorate (ED) in connection with a money laundering case linked to a Ponzi scheme. The probe agency seized properties worth ₹ 97.79 crore belonging to the couple, which also includes a Mumbai flat registered in Shilpa Shetty's name.