Police are presently investigating businessman Raj Kundra and actor Shilpa Shetty after they were allegedly caught scamming an investor in a gold scheme. The change happened as a result of a complaint that Riddhi Siddhi Bullions' managing director, Prithviraj Kothari, submitted. The two individuals and their business, Satyug Gold Private Limited, are accused of a prima facie cognizable offense, according to a Mumbai court hearing the case on Thursday.
Under a 5-year plan that guaranteed delivery of 5,000 grams of 24-carat gold in April 2019, Kothari had deposited ₹90,38,600 in Satyug Gold. According to the concept, investors had to pay the full amount of gold at a reduced rate up front when they applied. But the quantity of gold he had promised was never delivered, he complained.
The Kundra couple, two directors, and a business employee are all accused in the complaint of plotting to carry out "an utterly bogus scheme." The letter further said that they had engaged in criminal breach of trust and cheating, two offenses that are punishable under applicable IPC sections.
Subsequent Sessions Judge N P Mehta has now ordered the BKC police station to look into Kothari's claims. Bullies. It has also been requested that the Mumbai Police file a formal complaint "if any cognizable offense is found to have been committed by accused persons" for criminal breach of trust and cheating.
This development occurred just a few weeks after the couple's properties - worth ₹97.79 crore - and equity shares were attached by the Enforcement Directorate in violation of the Prevention of Money Laundering Act. The probe is a result of many FIRs that the Delhi Police and the Maharashtra Police filed against different people and organizations connected to a Bitcoin Ponzi scheme. Significant public monies are said to have been obtained through the scheme, which concealed ill-gotten gains in mysterious online wallets while making false promises of large profits.
