Shreyas Talpade, Alok Nath among 22 booked for fraud

An FIR has been registered against 22 individuals, including Bollywood actors Shreyas Talpade and Alok Nath, in connection with a fake finance company that allegedly duped hundreds of investors by promising to double their money within a year, officials said on Saturday.

Additional Superintendent of Police (ASP) Praveen Singh Chauhan said the company, Urban State Credit Cooperative Society Limited, based in Loni, operated investment schemes through agents in several western Uttar Pradesh districts, including Baghpat, Meerut and Ghaziabad. According to Chauhan, the company used well-known film personalities to promote its schemes.

“Shreyas Talpade was projected as the promoter, while Alok Nath was introduced as the brand ambassador to help the company gain people’s trust,” the officer said.

Over 500 investors reportedly deposited lakhs of rupees into the scheme. However, after a year, when investors sought to withdraw their funds, the company’s offices were found locked and its officials missing, police said.

A complainant, Babli from Baghpat, alleged that the company even forged signatures on documents to misappropriate deposits.

Chauhan said an investigation is underway to identify all accused and verify the extent of involvement of the celebrities whose names and images were used for the company’s promotion.