Indian actress Shilpa Shetty and her husband, businessman Raj Kundra, face accusations of fraud related to the Satyug Gold scheme launched by their company, Satyug Gold Private Limited in 2014.
According to reports from Indian news agencies, bullion trader Prithviraj Saremal Kothari has alleged that Shilpa Shetty, Raj Kundra, and their associates deceived investors through the Satyug Gold scheme. The scheme promised fixed-rate gold delivery regardless of market fluctuations, encouraging investors to pay upfront at a discounted rate for future gold delivery upon maturity.
Kothari claims he invested a significant sum in the scheme but did not receive the promised 5000 grams of 24-carat gold upon maturity in April 2019, despite paying INR 90,38,600. He presented documents including a cover letter signed by Shilpa Shetty and an invoice from Satyug Gold Private Limited to support his complaint.
Following Kothari’s complaint, the Mumbai sessions court has ordered an investigation into the allegations against the celebrity couple. If proven true, the court has directed that an FIR be registered and appropriate action taken against Shilpa Shetty and Raj Kundra under relevant sections of the Indian Penal Code.
