Shilpa Shetty and Raj Kundra accused of Rs 90 lakh fraud: Here's all you need to know

A Mumbai court has ordered an investigation into a complaint against actress Shilpa Shetty, her husband Raj Kundra, and their company, Satyug Gold Pvt. Ltd. They are accused of cheating a bullion trader, Prithviraj Saremal Kothari, managing director of Riddhi Siddhi Bullions Ltd., out of Rs 90.38 lakh.

Fraud allegations against Shilpa Shetty and Raj Kundra: The full story here

Shilpa Shetty With Husband Raj Kundra/BCCL

Who approached the court?

Kothari approached the special court under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999. He claimed that in March 2014, Kundra announced a scheme called Satyug Gold, which promised to return gold at the same rate after five years. Investors had to pay for the gold upfront at a discounted rate and were supposed to receive the gold on the maturity date.

In January 2015, Kothari found out that Satyug Gold had stopped the scheme. When he demanded his money back, he was assured that he would get the gold as promised. However, even after the maturity date, Kothari did not receive the gold, leading him to allege that he was cheated.

Additional Sessions Judge NP Mehta accepted the complaint, noting that a prima facie case was established. The court has instructed the BKC police station to investigate the allegations.

Highlights Of The Satyug Gold Fraud Case:

Shilpa Shetty With Her Family/X

Case Overview: Kundra, along with his wife Shilpa Shetty, faced allegations of cheating a bullion trader, Prithviraj Saremal Kothari, out of ?90.38 lakh in a gold scheme.

Details: Kothari, managing director of Riddhi Siddhi Bullions Ltd, filed a complaint under the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, 1999. He alleged that Kundra¡¯s company, Satyug Gold Pvt Ltd, had promised to return gold at the same rate after five years if investors paid upfront at a discounted rate. Kothari claimed that despite the scheme being discontinued in 2015 and repeated assurances, he did not receive the promised gold upon maturity.

Outcome: The Mumbai Sessions Court directed the police to investigate the allegations, indicating a prima facie case of cheating and fraud.

This is not the first time:

Raj Kundra, the businessman and husband of Bollywood actress Shilpa Shetty, has faced multiple legal challenges over the years. Here are some significant court cases involving him:

1. Pornography Case (2021)

Case Overview: Raj Kundra was arrested by the Mumbai Police in July 2021 for allegedly being involved in the creation and distribution of pornographic content through mobile apps.

Details: Kundra was charged under various sections of the Indian Penal Code (IPC), the Information Technology Act, and the Indecent Representation of Women (Prohibition) Act. He was accused of producing pornographic content and distributing it through mobile apps like "HotShots" and "Bollyfame." The police claimed to have found substantial evidence against Kundra, including emails and WhatsApp chats. Kundra denied the charges, stating that the content was not pornographic but rather erotic.

Outcome: Kundra spent over two months in jail before being granted bail in September 2021. The investigation is ongoing, and he continues to face legal proceedings.

2. IPL Betting Scandal (2013)

Case Overview: Raj Kundra was implicated in a betting scandal related to the Indian Premier League (IPL) while he was a co-owner of the Rajasthan Royals team.

Details: The scandal broke out during the 2013 IPL season, involving illegal betting activities. Kundra was accused of placing bets on IPL matches through a bookie. An investigation by the Delhi Police claimed that Kundra had admitted to betting on matches.

Outcome: In 2015, the Supreme Court of India suspended Kundra and his team, the Rajasthan Royals, from the IPL for two years. Kundra was also banned for life from any cricket-related activities by the Board of Control for Cricket in India (BCCI).

Picture Of Shilpa Shetty With Husband Raj Kundra/X

3. Bitcoin Scam Allegation (2018)

Case Overview: Raj Kundra was questioned by the Enforcement Directorate (ED) in connection with a Bitcoin scam.

Details: The case involved a large-scale scam where investors were allegedly defrauded through a cryptocurrency investment scheme. Kundra's name surfaced during the investigation due to his alleged connections with the main accused.

Outcome: Kundra was called in for questioning, but there was no substantial evidence linking him directly to the scam. The case did not result in any charges against him.

These cases reflect the various legal battles Raj Kundra has faced over the years, spanning across different types of allegations and industries.

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