Actress Shilpa Shetty and Husband Raj Kundra Face Lookout Circular in Multi-Crore Cheating Allegations

Bollywood actress Shilpa Shetty and her entrepreneur husband, Raj Kundra, are once again in the spotlight, this time facing a serious financial fraud investigation. The Mumbai Police's Economic Offences Wing (EOW) has issued a lookout circular (LOC) against the high-profile couple in connection with an alleged cheating case amounting to a staggering Rs 1.5 crore.

The case stems from a complaint filed by businessman Sachin Joshi, who alleges that he was defrauded by a company previously known as Satyug Gold Private Limited, now operating as SFL Private Limited.

Joshi claims he invested Rs 1.5 crore in a highly attractive gold scheme offered by the company, which promised him gold at significantly discounted rates upon maturity. However, the much-anticipated gold never materialised, nor was his substantial investment returned, leaving him in a state of financial distress and alleging a clear case of deception.

Sources within the EOW reveal that the lookout circular was issued after a thorough review of the evidence and the seriousness of the allegations.

Raj Kundra served as a director in the implicated firm, while Shilpa Shetty held the position of chairperson, placing both individuals under intense scrutiny regarding the company's operations and the alleged fraudulent scheme. The EOW's move signifies their intent to prevent the couple from leaving the country while the intricate investigation unfolds.

This is not the first brush with legal trouble for Raj Kundra.

He previously made headlines and faced arrest in a controversial pornography-related case, which further adds to the public and legal interest surrounding the couple's financial dealings. The EOW is meticulously examining bank transactions, company records, and communication exchanges to piece together the full scope of the alleged fraud and determine the extent of involvement of all parties.

The issuance of a lookout circular is a significant development, indicating that authorities believe the individuals' presence is crucial for the ongoing investigation.

The case highlights the risks associated with investment schemes and underscores the importance of due diligence. As the EOW continues its probe, the public awaits further details on this unfolding saga involving one of Bollywood's prominent couples.