Bollywood actor Shreyas Talpade, known for films like Iqbal and Apna Sapna Money Money, is facing serious allegations of financial fraud in Uttar Pradesh’s Mahoba district.
The actor, along with 14 others, has been accused of defrauding rural investors through a fraudulent chit fund scheme, promising high returns but ultimately vanishing with crores of rupees.
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The accused were allegedly associated with The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, a company that attracted investors by guaranteeing to double their money in a short period. Agents lured villagers into investing substantial amounts, only for the company to abruptly shut down, leaving investors in financial distress.
Authorities report that the scam had been running for nearly a decade before police action was initiated. A case has been registered at the Srinagar police station, and an extensive investigation is now underway.
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This is not the first time Talpade has been entangled in legal issues. In February, he, along with veteran actor Alok Nath, was named in an FIR in Lucknow for allegedly defrauding investors of over INR 9 crore. He has also been implicated in a multi-level marketing scam in Sonipat, Haryana.
The Loni Urban Multi-State Credit and Thrift Cooperative Society has been accused of similar fraudulent activities in Uttarakhand, where it reportedly operated 35 unauthorized branches and scammed investors out of approximately INR 92 crore.
Authorities have already arrested five individuals connected to the scheme. As investigations continue, more details are expected to emerge regarding Talpade’s involvement in the fraudulent operation.
