Bollywood actors Shreyas Talpade, Alok Nath named in investment fraud case in UP

Bollywood actors Shreyas Talpade and Alok Nath have been named among 22 individuals accused in an alleged investment fraud linked to the Loni Urban Multi-State Credit and Thrift Cooperative Society, according to a complaint filed in Uttar Pradesh’s Baghpat district, news agency ANI has reported.

The case has been filed by a resident of Baghpat’s Babli area. It alleges that the cooperative, where both actors served as brand ambassadors, defrauded investors by promising unusually high returns on their deposits.

The company’s agents reportedly persuaded villagers to invest by assuring them that their money would double within a short period. After collecting crores of rupees, the cooperative allegedly shut down its operations, leaving investors unable to recover their funds.

Local authorities said several first information reports (FIRs) have been registered in connection with the case across multiple states. The accused individuals, including Talpade and Nath, were allegedly involved in running or endorsing the cooperative. The investigation is ongoing, and further details are awaited from the police.

In July, the Supreme Court of India granted interim protection from arrest to Talpade in connection with the same case. The actor and Nath were previously implicated in a similar multi-level marketing fraud case in Haryana’s Sonipat, which involved comparable allegations of financial misrepresentation and public deception.

The cooperative society, known as The Loni Urban Multi-State Credit and Thrift Cooperative Society Limited, was said to have operated across several northern Indian states, raising money from rural investors with the promise of guaranteed returns.

Neither Talpade nor Nath has publicly commented on the latest complaint.

On the professional front, Talpade will next be seen in the film Single Salma, starring Huma Qureshi and Sunny Singh, while Alok Nath continues to be best known for his decades-long portrayal of fatherly roles in Hindi cinema.