Alok Nath, Shreyas Talpade Among 22 Booked For Allegedly Cheating 500+ Investors Of Rs 5 Crore

Shreyas Talpade and Alok Nath are among 24 individuals named in a fraud case filed in Baghpat, Uttar Pradesh. According to a complaint lodged by a local resident, villagers were allegedly lured into investing in a cooperative society with promises of high returns. The company, identified as The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, is accused of assuring investors substantial profits on their deposits.

The society allegedly lured investors by promising to double their investments within five years. However, for the past year, no returns have been paid out, leading agents to lodge a complaint at Baghpat Kotwali. More than 500 people have reportedly been defrauded of a total of Rs 5 crore in the scam. Shreyas Talpade and Alok Nath, who served as brand ambassadors for the society and actively promoted it at various events, have also been named as accused in the fraud case.

According to reports, after collecting substantial sums from villagers, the company abruptly shut down its operations in November 2024 and those involved went missing. The case has been under investigation for some time. In July this year, the Supreme Court issued an interim order granting Shreyas Talpade protection from arrest while the probe is ongoing. Earlier, Talpade and Nath, along with 11 others, were also implicated in a similar case related to a multi-level marketing fraud in Sonipat, Haryana.