Actor Shilpa Shetty, Raj Kundra face fraud charges over ₹60 crore investment deal
The Economic Offences Wing has filed a fraud case against Shilpa Shetty, her husband Raj Kundra, and another person at Mumbai’s Juhu Police Station.
Actor Shilpa Shetty, her husband Raj Kundra and an unknown person were booked by the Economic Offences Wing (EOW) of the Mumbai police for allegedly cheating a 60-year-old businessman to the tune of ₹60.48 crore in a loan-cum-investment deal of their company, Best Deal TV Private Limited.
The police said after a preliminary inquiry, the EOW registered the offence at Juhu police station against the actor and her husband. The case was registered based on a complaint by Deepak Kothari, 60 a businessman and the director of Lotus Capital Financial Services.
In the first information report (FIR) Kothari said he was introduced to Kundra by a common friend.
The couple then held 87.6 % shares in the firm, Best Deal TV Private Limited, on online shopping and retail platforms.
They demanded the money as an investment; however, they later convinced Kothari to transfer it as an investment, promising a monthly return and repayment of the principal amount.
The complainant transferred the money in 2015. Shetty resigned from the company in 2016, and discovered insolvency proceedings against the company for cheating another investor.
The police said the money was transferred and used for personal purposes
The police said they have booked them under sections 403 (dishonest misappropriation of property), 406 (criminal breach of trust) and 34 (common intention) of the Indian Penal Code (IPC).
