Shilpa Shetty, Raj Kundra Accused Of Fraud In Gold Investment Scheme
The accusation pertains to their 'Satyug Scheme', a gold investment initiative launched by their company, Satyug Gold.
Bollywood actor Shilpa Shetty and her husband, businessman Raj Kundra, have been accused of fraud by the managing director of Riddhi Siddhi Bullions Ltd., who approached the Mumbai civil sessions court, NDTV reported on Friday.
The accusation pertains to their 'Satyug Scheme', a gold investment initiative launched by their company, Satyug Gold Pvt. Ltd., the report said.
Under the scheme, investors were required to pay upfront for gold at a discounted rate, with delivery promised on the maturity date, according to the complaint by Prithivraj Saremal Kothari. "At the end of the delivery tenure, your gold is delivered by us regardless of the market price prevalent at that time," NDTV reported quoting the complaint filed.
Kothari invested Rs 90.4 lakh for a five-year plan, expecting 5,000 grams of 24-carat gold to be delivered by April 2, 2019, NDTV added.
The city sessions court has instructed the Bandra Kurla Complex police station to investigate the allegations, NDTV reported, adding that if the allegations were found substantiated, the court ordered the station to register an first information report in the case.
