Shreyas Talpade, Alok Nath among 22 booked for investment fraud in UP's Baghpat

An FIR has been registered in Baghpat against 22 people, including Bollywood actors Shreyas Talpade and Alok Nath, in connection with a fake finance company duping hundreds of investors by promising to double their money within a year, officials said on Saturday.

Additional Superintendent of Police (ASP) Praveen Singh Chauhan said the company, Urban State Credit Cooperative Society Limited, based in Loni, operated investment schemes through agents in several districts of western Uttar Pradesh, including Baghpat, Meerut, and Ghaziabad.

According to Chauhan, the company used well-known film personalities to promote its schemes.


"Shreyas Talpade was projected as the promoter, while Alok Nath was introduced as the brand ambassador to help the company gain people's trust," the officer said.

Over 500 investors reportedly deposited lakhs of rupees in the scheme. However, after a year, when investors sought to withdraw their funds, the company's office was found locked, and its officials missing, police said.

A complainant, Babli from Baghpat, alleged that the company even forged signatures on documents to misappropriate deposits.

Following multiple complaints, police registered a case under sections related to cheating, forgery, and criminal conspiracy.

Chauhan said an investigation is underway to identify all the accused, examine their bank accounts, and verify the extent of involvement of the celebrities whose names and images were used for the company's promotion.