Shilpa Shetty-Raj Kundra Accused Of Cheating Bullion Trader Of Rs 90 Lakhs In Gold Scheme, Court Orders Investigation

As reported by NDTV, the bullion trader – Prithviraj Saremal Kothari – filed a complaint. In his complaint, he mentioned that Shilpa Shetty, Raj Kundra, and their associates, orchestrated a scheme through their company, luring investors with promises of lucrative returns on gold investments. The scheme, named “Satyug Gold,” allegedly assured investors of gold delivery at a fixed rate, regardless of the market’s fluctuating rates.

Kothari, a prominent figure in the gold and bullion market, claimed that he was persuaded by the actor, her husband, and their associates to invest a substantial amount in the ‘Satyug Gold’ scheme. He alleged that assurances from from Shetty’s team convinced him of the scheme’s legitimacy and the timely delivery of gold upon maturity. However, when the maturity date of April 2, 2019, arrived, he did not receive the gold, despite having made an upfront payment of ?90,38,600. Documents presented by him to support his complaint include a covering letter signed by Shilpa Shetty Kundra and an invoice issued by Satyug Gold Private Limited.

Upon receiving the complaint, the court directed Mumbai Police to investigate the case.

Earlier this year, the Enforcement Directorate seized their properties worth Rs 97.79 crores when Kundra’s name was brought up in a money laundering case associated with a Ponzi scheme. Among the seized goods, the investigative agency also seized a flat in Mumbai registered under the name of Shilpa Shetty.