Raj Kundra Faces EOW Summons in Elaborate Gold Scheme Cheating Case

Businessman Raj Kundra, widely known as the husband of actress Shilpa Shetty, has once again found himself under the scanner of Mumbai's Economic Offences Wing (EOW). Kundra was recently summoned by the EOW in connection with an alleged cheating case that dates back several years, reigniting scrutiny over his business dealings.

The current summons is related to a complaint filed by Ganesh Subrahmanyam against Satyug Gold Pvt Ltd, a Bandra-based firm.

Subrahmanyam alleges that he invested a substantial sum exceeding Rs 41 lakh in a gold scheme offered by the company. The scheme promised investors the opportunity to purchase gold at discounted rates, with the added benefit of receiving the actual gold upon maturity. However, according to the complaint, the promised returns and gold were never delivered, leading to accusations of a sophisticated financial fraud.

Raj Kundra's involvement in Satyug Gold Pvt Ltd has been a point of contention.

While he was a director of the company for a brief period – approximately two to three months – he reportedly resigned from his position in 2018. Despite his resignation, investigators are keen to understand the full extent of his role and knowledge regarding the company's operations and the alleged fraudulent scheme during his tenure.

This isn't the first time Kundra has been questioned in this particular case.

He was previously interrogated by the EOW concerning the Satyug Gold matter back in 2020. The latest summons indicates a renewed focus by the EOW, suggesting that new evidence or a deeper dive into the existing information has prompted further investigation and the need for Kundra's statement.

The Economic Offences Wing is a specialized unit of the police force that investigates financial crimes and large-scale frauds.

Their involvement underscores the serious nature of the allegations, which involve significant financial losses for investors. The ongoing inquiry aims to unravel the intricacies of the gold scheme, identify all individuals responsible, and ascertain the precise mechanism of the alleged cheating.

As the investigation progresses, the financial world and the public alike will be watching closely for further developments in this high-profile case involving one of India's well-known personalities.

Kundra's cooperation with the EOW will be crucial in shedding light on the full circumstances surrounding the Satyug Gold alleged scam.