Srinagar: The Jammu and Kashmir Police have registered a financial fraud case against 15 individuals, including Bollywood actor Shreyas Talpade, for allegedly deceiving people through a chit fund scheme.
According to reports, the accused were associated with The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, which promised villagers high returns on their investments. Agents of the company allegedly convinced hundreds of people to invest, claiming their money would double in a short period. However, after collecting crores of rupees, the company reportedly ceased operations and disappeared. The scheme had been running in Mahoba for a decade before coming under legal scrutiny.
Authorities have filed a case at Srinagar police station, and an investigation is underway to determine the full extent of the fraud. Legal action will follow based on the findings.
This is not the first time Shreyas Talpade has faced allegations of financial misconduct. Last month, an FIR was lodged against him and actor Alok Nath in Uttar Pradesh for allegedly defrauding investors of over ₹9 crores. They were also implicated in a similar case in Sonipat, Haryana, linked to a multi-level marketing scheme. Reports suggest that both actors endorsed the cooperative society’s investment plans, adding credibility to the operation.
Meanwhile, Talpade’s team has denied the allegations, dismissing them as “false and baseless.”
Official Statement from Shreyas Talpade’s Team:
“It is deeply unfortunate that in today’s world, a person’s hard-earned reputation appears to be vulnerable to undue tarnishment by unfounded rumours. Recent reports alleging Mr. Shreyas Talpade’s involvement in fraud or misconduct are completely false, baseless, and devoid of any merit whatsoever. As a public figure, Mr. Talpade, like many other celebrities, is frequently invited to various corporate and annual events, which he attends as and when possible.”
The statement further clarified that Talpade had no direct involvement with the company in question.
“Needless to say, Mr. Talpade has no nexus whatsoever with any fraudulent or unlawful acts as are being alleged and/or circulated. We urge everyone to verify facts before spreading misinformation and request that Mr. Talpade’s name be kept away from these baseless rumors. Mr. Talpade is a law-abiding citizen who remains committed to maintaining the highest standards of integrity, honesty, and professionalism in all of his endeavors,” the statement added.
