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An FIR has been registered against Bollywood actors Alok Nath, Shreyas Talpade and five members of a Credit Cooperative Society, at Uttar Pradesh’s Gomti Nagar Police Station in Lucknow. The FIR states that the 7 accused have allegedly duped 45 investors of Rs 9.12 Crores. For those who don’t know, both the Bollywood actors and 11 others were also booked in Haryana’s Sonipat in the same multi-level marketing scam case. The case is related to a cooperative society, which suddenly disappeared after collecting crores of rupees from lakhs of people. This society was collecting money from people for the last six years, but when people demanded their money back, its directors absconded. According to media reports, both these actors had promoted the investment schemes of this society, while another actor Sonu Sood had also attended one of its programs as the chief guest.
This is the case
According to the FIR, this organization named ‘Human Welfare Credit Cooperative Society’ started its business in many states including Haryana and Lucknow on September 16, 2016. This society was registered in Indore, Madhya Pradesh and was working under the Multi-State Cooperative Society Act. The society offered investors to invest in fixed deposit (FD) and recurring deposit (RD) schemes and lured them with attractive interest rates.
There were more than 250 branches
After this, the society adopted the model of multi-level marketing (MLM) and raised money from people by promising big incentives. Gradually, the society established itself as a reliable financial institution and assured investors that their money would be safe. Vipul, an agent associated with the society, informed that he had opened more than 1,000 accounts, but none of these accounts have received money till now. This society had more than 250 branches across the state and about 50 lakh people were associated with it. Vipul shared that people were encouraged to invest by going door to door through agents. Online platforms were also used for this work. Apart from this, the society organised big events in hotels, in which investors and agents were assured that their money was completely safe.
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