Actor Shreyas Talpade, along with 14 others, has been named in a major fraud case involving a chit fund scam that allegedly duped villagers out of crores of rupees in Uttar Pradesh’s Mahoba district. Authorities have registered a case at the Srthe inagar police station and launched an investigation into the multi-crore scheme.

The accused were reportedly linked to The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, a financial entity that lured rural investors with promises of high returns. According to sources, agents of the company assured villagers that their investments would double within a short span, convincing hundreds to deposit substantial amounts. However, after collecting funds worth crores, the company abruptly ceased operations, and its representatives went missing.

Scam Ran for Nearly a Decade

Reports indicate that the fraudulent activities had been ongoing in Mahoba for nearly ten years before coming under legal scrutiny. Authorities are now working to uncover the full extent of the scam and determine further legal action.

This is not the first time Talpade has faced legal trouble. In February, an FIR was filed against him and veteran actor Alok Nath in Uttar Pradesh for allegedly defrauding investors of over ₹9 crore. The case was lodged at the Gomti Nagar police station in Lucknow. Additionally, both actors were implicated in a multi-level marketing scam in Sonipat, Haryana.

Previous Cases Against Loni Urban Credit Society

The Loni Urban Multi-State Credit and Thrift Cooperative Society has been under investigation in multiple states for similar fraudulent activities. In Uttarakhand, the company allegedly operated 35 unauthorized branches, defrauding investors of approximately ₹92 crore through misleading investment schemes. The Uttarakhand Police have arrested five individuals in connection with the case.

As investigations continue, authorities are working to track down the key perpetrators and ensure justice for the victims.