Mumbai Police’s Economic Offences Wing (EOW) questioned Bollywood actor Shilpa Shetty’s husband, Raj Kundra, on Monday in a major cheating case involving Rs 60 crore. The case accuses the couple of duping a businessman out of his hard-earned money, and investigations are heating up.
Sources from the EOW say they might grill Kundra again next week, but first, they need to check statements from other witnesses. The team won’t move forward until they verify every detail to get to the bottom of this Rs 60 crore fraud.
It all started back in August when businessman Deepak Kothari, director of Lotus Capital Financial Services Ltd, filed a complaint against Shilpa Shetty, Raj Kundra, and another individual. Kothari claims the duo tricked him between 2015 and 2023, promising big returns on his investment but allegedly spending the cash on their lavish lifestyle instead.
Here’s what allegedly went down: In 2015, Shilpa Shetty and Raj Kundra approached Kothari through a middleman. They wanted Rs 75 crore to grow their company, Best Deal TV Pvt Ltd, which sold lifestyle products via an online shopping platform. They offered 12% interest on the loan.
But things shifted. Instead of a loan, they convinced Kothari to invest the money, promising monthly payouts and full repayment of the principal. He transferred Rs 31.95 crore in April 2015 through a share subscription agreement, followed by another Rs 28.53 crore in September 2015 via a supplementary deal. All the funds landed in Best Deal TV’s bank accounts.
Kothari says he tried repeatedly to get his money back, but the couple allegedly ignored him and used the cash for personal gains. Frustrated, his lawyers, Dr. Yusuf Iqbal and Adv. Zain Shroff from YNA Legal, pushed for action.
On September 5, Mumbai Police issued a Lookout Circular (LOC) against Shilpa Shetty and Raj Kundra to prevent them from leaving the country amid this cheating probe. The EOW is leading the investigation into the alleged Rs 60 crore scam.
Shilpa and Raj’s lawyer, Prashant Patil, has hit back at the claims. He says the allegations are false and that the couple will share their side with the authorities soon.
This high-profile case has Bollywood fans and investors watching closely, as the EOW digs deeper into the financial dealings of the power couple. Stay tuned for updates on the Shilpa Shetty Raj Kundra cheating case.
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