Bollywood Actors Shreyas Talpade and Alok Nath Named in Multi-State Cooperative Fraud Case
Bollywood actors Shreyas Talpade and Alok Nath, along with 22 others, have been named in a fraud case linked to the Loni Urban Multi-State Credit...
Bollywood actors Shreyas Talpade and Alok Nath, along with 22 others, have been named in a fraud case linked to the Loni Urban Multi-State Credit and Thrift Cooperative Society, local police confirmed. Both actors served as brand ambassadors for the cooperative, which is now under investigation for allegedly duping investors.
Allegations of Investor Fraud
The case was lodged following a complaint by Babli, a resident of Baghpat, alleging that the society misled the public under the guise of secure investment schemes. According to the complaint, the society offered fixed and recurring deposit schemes, promising attractive returns and safety of funds to lure investors.
Initially, the society appeared legitimate and fulfilled investor payouts for a few years. However, in 2023, payments reportedly started being delayed, with officials attributing the delays to “system upgrades.” The complaint states that investors were given false assurances before society owners ceased all contact, leaving many without their invested money.
The FIR was registered on January 22, 2025, under Sections 316(2), 318(2), and 318(4) of the Bharatiya Nyaya Sanhita, 2023, covering offences including criminal breach of trust and cheating.
Legal Protections for the Actors
Both Alok Nath and Shreyas Talpade had previously sought legal protection from arrest. In September, the Supreme Court granted Alok Nath interim relief, directing that no coercive action be taken against him until further hearings. Similarly, Shreyas Talpade has also received protection from arrest in connection with the ongoing investigation.
A senior ACP from Murthal, Ajeet Singh, told PTI that the two actors were allegedly roped in as brand ambassadors to attract investors due to their public profiles. “They were named in the complaint. An FIR has been registered. It will now be investigated what their role was,” Singh said.
Background of the Society
The Loni Urban Multi-State Credit and Thrift Cooperative Society was established under the Multi-State Cooperative Societies Act and began operations in several states, including Haryana, from September 16, 2016. It reportedly relied on multi-level marketing techniques to expand its investor base rapidly.
The complaint highlights that while the cooperative initially appeared trustworthy, its operations allegedly turned fraudulent as payouts to investors stalled, raising suspicions of financial misconduct. Authorities are now examining the society’s leadership and promotional practices.