'Truth will prevail': Shilpa Shetty, Raj Kundra address cheating allegations
What's the story
Earlier this month, a Mumbai court directed a police investigation into a complaint against Shilpa Shetty Kundra, and her husband Raj Kundra for allegedly defrauding an investor.
The complaint—filed by bullion trader Prithviraj Saremal Kothari—accused the couple of orchestrating a scheme under their company, "Satyug Gold," which promised traders lucrative returns and gold delivery at fixed rates despite market fluctuations.
Now, in response to the allegations, the couple has issued their first statement through their advocate asserting their innocence.
Defense statement
'The police delivered justice'
Kundras's advocate Prashant Patil issued a statement emphasizing, "The complainant had moved a criminal complaint against my clients in 2022."
"After a thorough investigation, it was found that the complainant had in fact received the entire alleged amount of ₹90 lakh through legitimate means of payment."
"My clients bonafidely submitted these documents to the police department. After finding out the truth of the matter, the police delivered justice to my clients," their statement read.
Defense
'My clients have not committed any offense...'
Further, Patil highlighted, "Post this inquiry, the complainant opted to file a private complaint before the Honorable Court."
"After a passage of almost 2 years, the Honorable Court has directed the police to investigate the case again. We have complete faith in the independence and fairness of the investigation. The truth shall prevail," it continued.
"My clients have not committed any offense and it has been established through documents in possession of my clients," it further added.
Legal recourse
Advocate pointed out an arbitration clause
The advocate mentioned that there is an arbitration clause in the contract between Kothari and his clients.
"If the complainant has any grievance about the alleged 'interest amount' the clause of Arbitration can certainly be invoked," he said.
Meanwhile, Shilpa and Raj further stated their willingness to cooperate with the investigating agencies,.
Patil stated, "My clients shall fight this battle legally and shall cooperate with the investigation agencies. My clients reserve their right to sue the complainant for malicious proceedings."
Alleged fraud
Investor claimed non-delivery of promised gold: Here's what happened
For those unaware, Kothari claims that the Kundras launched a scheme in 2014 requiring investors to pay upfront for gold at a discounted rate, with delivery promised on the maturity date.
He reportedly invested ₹90,38,600 in a five-year plan with an assurance of receiving 5,000gm of 24-carat gold on April 2, 2019.
However, Kothari alleges that the promised amount of gold was never delivered to him.
Past troubles
Past legal troubles of the celebrity couple: A look
Meanwhile, this isn't the first time Shilpa and Raj have faced legal issues.
In April, the Enforcement Directorate (ED) seized Raj's properties worth ₹97.79cr, including a residential flat in Mumbai's Juhu in Shilpa's name, a bungalow in Pune, and equity shares in Raj's name.
In 2021, Raj was arrested for allegedly creating and uploading pornographic films on mobile apps, and he was granted bail after nearly two months in custody.
A film, UT 69 was released based on the case.