Alok Nath and Shreyas Talpade
An FIR has been lodged against Bollywood actor Alok Nath, Shreyas Talpade and five members of a credit cooperative society at Gomti Nagar Police Station in Lucknow, Uttar Pradesh. The FIR states that 7 accused have allegedly cheated Rs 9.12 crore from 45 investors. Let those who do not know that both Bollywood actors and 11 others were also booked in Sonepat, Haryana in the same multi-level marketing scam case. The case is related to a cooperative society, which suddenly disappeared after recovering crores of rupees from millions of people. This society was charging money from people for the last six years, but when people asked for their money back, its operators escaped. According to media reports, both these actors had promoted the investment schemes of this society, while another actor Sonu Sood also attended one of its event as the chief guest.
This is the whole matter
According to the FIR, the institution called ‘Human Welfare Credit Cooperative Society’ started its business in several states including Haryana and Lucknow on 16 September 2016. The society was registered in Indore, Madhya Pradesh and was working under the Multi-State Cooperative Society. The Society offered investors to invest in fixed deposits (FD) and recurring deposits (RD) schemes and lured them of attractive interest rates.
There were over 250 branches
After this, the society adopted the model of multi -level marketing (MLM) and raised money from people by promising huge amount. Gradually, the society established itself as a reliable financial institution and assured investors that their money would be safe. Society agent Vipul said that he has opened more than 1000 accounts, but no money has been received in any of these accounts so far. The society had more than 250 branches across the state and about 50 lakh people were connected to it. Vipul said that people were encouraged from house to house through agents to invest. Online platforms were also used for this work. Apart from this, the society organized big events in hotels, in which investors and agents were assured that their money is completely safe.
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