Shreyas Talpade, Alok Nath among 22 booked in Baghpat investment scam

Police in Baghpat have registered an FIR against 22 people, including Bollywood actors Shreyas Talpade and Alok Nath, over a fake finance company that allegedly duped hundreds of investors. The company promised to double their money within a year, luring people with celebrity endorsements.

The company, Urban State Credit Cooperative Society Limited , based in Loni, operated through agents across western Uttar Pradesh districts like Baghpat, Meerut, and Ghaziabad. According to Additional Superintendent of Police Praveen Singh Chauhan, the company used well-known actors to gain public trust. “Shreyas Talpade was projected as the promoter, while Alok Nath was introduced as the brand ambassador,” he said.

The company reportedly used Shreyas as a “promoter” and Alok Nath as a “brand ambassador” to gain the trust of investors. Police have included them in the case to investigate whether they were aware of the scheme or if their names and images were used without consent. The investigation will determine the extent of their involvement, if any, before any legal conclusions are drawn.

Over 500 investors reportedly deposited lakhs of rupees in the scheme. However, when investors tried to withdraw their money after a year, the company’s office was found locked, and its officials had disappeared. One complainant, Babli from Baghpat, alleged that the company even forged signatures on documents to misappropriate funds.

The FIR was filed under sections related to cheating, forgery, and criminal conspiracy . Police are now investigating to identify all accused, examine their bank accounts, and verify the involvement of the celebrities whose names and images were used to promote the company.

This case highlights a growing concern over fraudulent investment schemes that exploit public trust, often using celebrity endorsements to appear credible. Authorities are urging the public to exercise caution and conduct proper due diligence before investing in such schemes.