Raj Kundra, Shilpa Shetty accused of cheating trader of Rs 90 lakh in gold scheme

Shilpa Shetty and Raj Kundra

Bollywood actress Shilpa Shetty and her husband Raj Kundra have once again found themselves in legal trouble. The couple has been accused of cheating a prominent trader in Mumbai of Rs 90 lakh in a gold scheme. Following a complaint by bullion trader Prithviraj Saremal Kothari, the Mumbai Sessions Court has ordered a thorough investigation into the matter.

According to the complaint filed by Mr Kothari, Raj and Shilpa along with their associates orchestrated a scheme under their company, promising investors lucrative returns on gold investments. The scheme was named 'Satyug Gold' and promised investors of gold delivery at a fixed rate despite market fluctuations

Mr Kothari claimed that he was persuaded by the accused to invest a substantial amount in the scheme. He is one of the leading players in the gold and bullion market. Repeated assurances by Raj, Shilpa, and their associates convinced Mr Kothari about the legitimacy of the scheme.

When the maturity date of April 2, 2019 reached, Mr Kothari claimed that he did not receive the gold despite paying the amount of Rs 90,38,600 upfront. He also presented valid documents that backed his claim against the accused. He presented a cover letter signed by Shilpa Shetty Kundra and an invoice issued by Satyug Gold Private Limited.

Recently, Mr Kundra and Ms Shetty sold the investment scheme based on their reputation and status in their field of entertainment and business. This led investors to believe in the scheme sold by Raj and Shilpa. However, the investors were defrauded in the end.

Meanwhile, earlier this year, Raj Kundra was under the radar of the Enforcement Directorate in a money laundering case linked to a Ponzi scheme. The probe agency seized properties worth Rs 97.79 crore, which also includes a Mumbai flat registered in the name of Shilpa Shetty.