Shilpa Shetty got Arrested as Mumbai Police issued against Shilpa Shetty in a Rs 60 crore cheating

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Shilpa Shetty and Raj Kundra Face Serious Legal Challenges Amid Rs 60 Crore Cheating Allegations

Bollywood actress Shilpa Shetty and her husband Raj Kundra are once again under the scanner of law enforcement agencies in Mumbai. The Mumbai Police have issued a lookout notice against the couple in connection with a cheating case involving Rs 60 crore. This latest development adds to the growing list of legal troubles faced by the duo, raising serious questions about their business dealings.

Background of the Case

The allegations stem from a complaint filed by an individual named Deepak, who claims that Shilpa Shetty defrauded him of over Rs 60 crore through a loan and investment scheme between 2015 and 2023. According to police sources, Deepak had provided funds with the understanding that the money would be used for business growth. However, investigations revealed that these funds were allegedly misused, prompting the filing of an FIR under relevant sections of the Indian Penal Code (IPC), including Section 403, which deals with criminal breach of trust.

The complaint further states that Raj Kundra and Shilpa Shetty collectively owned nearly 88% of a company named Best Deal TV. Deepak was introduced to Raj Kundra through a mutual contact and was initially approached for a loan of Rs 75 crore at an annual interest rate of 12%. However, he was later persuaded to treat the amount as an investment instead, with promises of tax benefits and high returns. This change in the nature of the transaction is at the heart of the dispute.

Details of the Allegations

Deepak’s complaint accuses the couple of deliberately misleading him about the use of his money. The funds were supposed to be utilized for expanding the company’s operations, but according to the investigation, they were diverted elsewhere. The police have confirmed that the money was misused, leading to the initiation of legal proceedings.

The lookout notice issued by the Mumbai Police serves as a warning to immigration authorities to prevent the couple from leaving the country until the investigation is complete. This step indicates the seriousness with which the police are treating the matter.

Shilpa Shetty and Raj Kundra’s Response

Both Shilpa Shetty and Raj Kundra have categorically denied all allegations. In a joint statement, they described the case as baseless and malicious, aimed solely at tarnishing their reputation. They emphasized their commitment to cooperating with the authorities and expressed confidence that the truth would eventually come out.

Despite their denials, the legal pressure on the couple is mounting, especially given their past brushes with the law.

Previous Legal Troubles

This is not the first time that Shilpa Shetty and Raj Kundra have found themselves embroiled in legal controversies. Earlier in 2024, Priti Raj Kutari accused them of cheating investors in connection with a gold investment scheme. This allegation added to the cloud of suspicion surrounding their financial dealings.

Raj Kundra’s legal troubles date back to 2021 when he was arrested by the Mumbai Police on charges of producing and distributing adult content through an online platform. Although he was granted bail later that year, the case attracted significant media attention and public scrutiny.

In 2024, the Enforcement Directorate (ED) seized properties worth Rs 97 crore belonging to Raj Kundra in connection with a Bitcoin investment fraud case. The case alleged that Kundra was involved in a Ponzi scheme that defrauded investors of large sums of money. The ED’s action against Kundra’s assets highlighted the severity of the accusations.

Impact on Public Image and Career

The ongoing legal battles have undoubtedly affected the public image of both Shilpa Shetty and Raj Kundra. Shilpa, who has been a prominent figure in Bollywood and a successful entrepreneur, now faces questions about her business ethics. Raj Kundra, known for his ventures into various industries including sports and digital content, is also under intense scrutiny.

The couple’s involvement in multiple alleged financial scams has led to widespread media coverage and public debate. Fans and critics alike are watching closely to see how the cases unfold and what consequences the couple may face.

Legal Process and Next Steps

The lookout notice issued by the Mumbai Police is a procedural step to ensure that the accused do not evade investigation by leaving the country. The police are likely to summon Shilpa Shetty and Raj Kundra for questioning as part of the ongoing probe.

Investigators will examine financial records, contracts, and communications related to the disputed transactions to establish whether fraud was committed. If sufficient evidence is found, formal charges could be filed, leading to court proceedings.

The couple’s legal team is expected to vigorously defend them against the allegations, arguing that the transactions were legitimate and that no wrongdoing occurred.

Broader Implications for Celebrity Business Ventures

The case against Shilpa Shetty and Raj Kundra highlights the risks associated with celebrity endorsements and involvement in complex financial schemes. Celebrities often attract investors due to their fame and perceived credibility, but this case serves as a cautionary tale about the importance of transparency and due diligence.

Financial regulators and law enforcement agencies are increasingly scrutinizing such schemes to protect investors and maintain market integrity. The outcome of this case could influence how celebrity-backed businesses operate in the future.

Conclusion

The Rs 60 crore cheating case involving Shilpa Shetty and Raj Kundra is a significant development in the ongoing saga of their legal challenges. With a lookout notice issued and investigations underway, the couple faces serious allegations that could have far-reaching consequences.

While they deny the charges and maintain their innocence, the legal process will determine the truth. This case serves as a reminder that no one is above the law, regardless of their celebrity status.

As the investigation progresses, the public and media will continue to watch closely. The outcome will not only affect Shilpa Shetty and Raj Kundra’s personal and professional lives but may also set precedents for handling similar cases involving high-profile individuals in India.

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