Bollywood personalities Alok Nath and Shreyas Talpade have been named in a fraud case filed in Baghpat, Uttar Pradesh. Along with the two actors, 22 other people have also been accused. Reportedly, the complaint was filed by a local resident who alleged that villagers were promised large profits on their money if they invested in a cooperative society. The company, named The Loni Urban Muktistate Credit and Thrift Cooperative Society Limited, allegedly promised the villagers lucrative returns on their investments.

How the investment fraud worked

According to reports, the cooperative society sent its agents to rural areas to convince villagers to invest in their schemes. They were lured with claims of doubling their money in a short span of time. Reports state that after collecting large sums from villagers, the company abruptly ended operations and disappeared.