Legal Storm Brews: Shilpa Shetty & Raj Kundra Face Look Out Circular in Rs 60 Crore Cheating Allegations

A fresh wave of legal scrutiny has engulfed Bollywood actress Shilpa Shetty and her husband, businessman Raj Kundra, as the Mumbai Police’s Economic Offences Wing (EOW) has issued a Look Out Circular (LOC) against the high-profile couple. This significant development stems from a long-standing alleged cheating case amounting to a staggering Rs 60 crore, casting a shadow once again over their public image.

The core of the allegations revolves around a disputed gold investment scheme tied to Satyug Gold Private Limited, a company previously promoted by Shilpa Shetty and managed by Raj Kundra.

According to reports, an FIR was originally filed in 2021 by complainant Nitin Barai, who claims he was enticed into investing in a scheme that promised customers gold at discounted rates and assured returns on their investments. However, Barai alleges that these promises were never fulfilled, leading to a substantial financial loss.

The scheme, as described by the complainant, involved customers being urged to purchase a 'Satyug Gold Card' for a five-year period.

During this tenure, they were purportedly guaranteed a fixed amount of gold upon maturity. Despite initial investments and the passage of time, many investors, including Barai, reportedly did not receive the promised gold or their returns, sparking widespread complaints and eventually leading to legal action.

The EOW's decision to issue an LOC signifies a serious escalation in the investigation.

A Look Out Circular is typically issued to prevent an individual from leaving the country while an investigation is ongoing. This move suggests that the authorities view the couple as persons of interest in the ongoing probe and deem their presence crucial for further inquiries. While the couple has vehemently denied any wrongdoing in the past, the issuance of an LOC places them firmly under the scanner.

This isn't the first time Raj Kundra has faced significant legal challenges.

He was previously arrested in 2021 in connection with an alleged pornography case, for which he later secured bail. The current Rs 60 crore cheating case adds another complex layer to his legal battles. Shilpa Shetty, while not directly implicated in the day-to-day operations of Satyug Gold as per her previous statements, has been a promoter and faces scrutiny due to her association with the company and her husband.

The Mumbai Police's EOW is meticulously examining bank transactions, company records, and statements from other complainants to piece together the full scope of the alleged fraud.

The issuance of the LOC against both Shilpa Shetty and Raj Kundra underscores the gravity of the allegations and the authorities' determination to ensure a thorough investigation. As the legal proceedings unfold, the entertainment industry and the public will be closely watching for further developments in this high-stakes case.