By: The Trek News Desk
Bollywood actors Shreyas Talpade and Alok Nath have been named in a major investment fraud case linked to the Loni Urban Multi-State Credit and Thrift Cooperative Society. According to sources, the cooperative allegedly duped hundreds of small investors across North India by promising hefty returns on their deposits. Both actors had served as brand ambassadors for the organisation, which used their promotional campaigns to gain public trust.
“Double Return” Promise Misleads Rural Investors
The complaint, filed by a resident named Babli from Baghpat, accuses the cooperative of luring investors by claiming that their deposits would be doubled within a fixed period.
Agents reportedly travelled through rural areas, convincing villagers to invest their savings in return for guaranteed high profits.
Promotional videos and advertisements featuring Talpade and Nath were widely used to attract public attention and build credibility for the cooperative’s schemes.
Over 500 Investors Duped of ₹5 Crore
According to media reports, more than 500 investors from Uttar Pradesh and Uttarakhand lost approximately ₹5 crore in the alleged scam.
The fraud came to light after the cooperative suspended its payment gateway in November 2024, abruptly halting all returns and withdrawals.
Many investors were reportedly promised returns ranging from ₹25,000 to ₹1 lakh, depending on the size of their investment.
22 Others Under Investigation
The FIR names a total of 24 accused individuals, including regional managers, senior executives, and marketing agents from Haryana, Uttar Pradesh, Uttarakhand, Himachal Pradesh, Lucknow, Indore, and Mumbai.
These individuals are believed to have been directly involved in managing the financial operations and investor dealings of the cooperative.
Regulatory Action and Legal Background
The case resurfaced this month following the Supreme Court’s interim order in July 2025, which granted Shreyas Talpade protection from arrest while the probe continues.
Earlier, on March 3, 2025, the Central Registrar of Cooperative Societies (CRCS) had issued a directive to liquidate the Loni Urban Cooperative Society, citing numerous complaints of non-payment of matured deposits.
Before that, in January 2025, the CRCS had already warned the society to wind up its operations. A show-cause notice issued in August 2023 received a “contradictory and unsatisfactory” response, further fuelling regulatory concerns.
Previous Controversy
This is not the first time the two actors’ names have been linked to a financial controversy. Earlier this year, both Talpade and Nath were among 11 people named in a multi-level marketing scam in Sonipat, Haryana. However, they denied any direct involvement in that case.
Source: News Agencies
