Actors Shreyas Talpade, Alok Nath named in Uttar Pradesh investment fraud case

Bollywood actors Shreyas Talpade and Alok Nath have been named among 24 individuals accused in an alleged investment fraud involving a cooperative society operating in Uttar Pradesh, as per reports. The case was registered following a complaint by a local resident who claimed that villagers were misled into investing their savings with promises of unusually high returns.

The company at the centre of the controversy, The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, reportedly lured investors by assuring them that their money would double within a short period. Agents of the firm allegedly toured rural areas, persuading residents to invest substantial sums under the pretext of guaranteed profits.

According to reports, the company collected large deposits from villagers before abruptly ceasing operations, leaving investors without their money or any communication from the Organisers.

Both Talpade and Nath had served as brand ambassadors for the cooperative society, and investigators are now examining the extent of their involvement. Authorities have also placed the names of 22 other accused individuals under review as part of the ongoing probe.

The case, which has been under investigation for several months, also connects to an earlier instance. In July this year, the Supreme Court granted interim protection from arrest to Shreyas Talpade while the inquiry continues.

Notably, both actors had previously been named in another multi-level marketing fraud case in Sonipat, Haryana, involving similar allegations of financial deception and public misrepresentation.