Overview

• A new case has been filed in Mahoba, Uttar Pradesh, accusing Shreyas Talpade and 14 others of operating a chit fund scam targeting rural villagers.
• The accused allegedly ran 'The Loni Urban Multistate Credit and Thrift Cooperative Society Limited,' promising high returns on fixed deposits, recurring deposits, and other schemes.
• Victims claim the company initially paid returns but ceased payments in 2023, citing 'system upgradation,' before shutting down and becoming untraceable.
• Authorities are investigating Talpade's role as a brand ambassador and whether his involvement influenced villagers to invest in the fraudulent schemes.
• This case follows earlier fraud allegations against Talpade in Lucknow and Sonipat, where he was linked to scams involving multi-level marketing and a ₹9 crore fraud.