Alok Nath, Shreyas Talpade Among 22 Booked For Allegedly Cheating 500+ Investors Of Rs 5 Crore

Last Updated:October 24, 2025, 12:32 IST

On November 27, 2024, the society reportedly shut down its transaction software. Over 25 agents across the district had collected funds, leaving investors without answers

Shreyas Talpade and Alok Nath were brand ambassadors for the society and frequently promoted it at events. (News18 Hindi/File)

Over 500 people in Baghpat in Uttar Pradesh have been cheated out of Rs 5 crore in a scheme that promised to double their money in five years. A case has been filed against 22 individuals, including actors Alok Nath and Shreyas Talpade.

The alleged fraud was executed by ‘The Loni Urban Multi State Credit and Thrift Cooperative Society’. Following the registration of the case, the police have commenced an investigation.

The society enticed investors with the promise of doubling their investments within five years. For the past year, investors have not received any returns, prompting agents to file a complaint at Baghpat Kotwali.

Shreyas Talpade and Alok Nath, who were brand ambassadors for the society and frequently promoted it at events, are also implicated in this fraud case.

Babli, a resident of Meetli village, who was one of the victims in the fraud case, revealed that a young man from Bijraul village was linked to the society and visited their village frequently. Babli said that the man had claimed that the society was registered with the Ministry of Agriculture and Cooperatives, Government of India.

After consulting with company officials, Babli had reportedly invested Rs 1.90 lakh which was kept in a fixed deposit, from the Baghpat center to the Samalkha branch in Haryana. Following Babli, other individuals, including Sharmila, an Anganwadi worker from Luhari village, and Suraj also invested their money. In total, more than 500 people were duped.

It is alleged that on November 27, 2024, the society abruptly shut down its transaction software. Discussions with officials at the Samalkha office yielded no satisfactory explanations. Agents revealed that the society had appointed over 25 agents across the district, collecting investments amounting to over Rs 5 crore from more than 500 people.

In the wake of the fraud case, the Baghpat Kotwali police have registered a case against 22 accused individuals and initiated an investigation. Kotwali in-charge Dixit Tyagi confirmed that a case has been registered and actions will be taken based on the findings of the investigation.

News india Alok Nath, Shreyas Talpade Among 22 Booked For Allegedly Cheating 500+ Investors Of Rs 5 Crore

Read More