The Supreme Court on Monday extended protection from arrest to actor Shreyas Talpade, who is facing allegations of cheating and criminal breach of trust related to the Human Welfare Credit Cooperative Society Ltd. scam.
A bench comprising Justices B.V. Nagarathna and K.V. Viswanathan issued notices to the Haryana Police and others in response to Talpade’s petition. The FIR, lodged on January 22, 2024, includes charges under Sections 316 and 318 of the Bharatiya Nyaya Sanhita (BNS), 2023.
The complaint was filed by Vipul Antil, a 37-year-old resident of Sonipat, who alleged that 13 individuals, including actors Shreyas Talpade and Alok Nath, were brand ambassadors of the society and used their celebrity status to influence people into investing.
ACP Ajeet Singh confirmed the complaint and said the accused’s roles will be thoroughly investigated, particularly their involvement in promoting the multi-level marketing scheme used by the society.
As per the complaint, the society offered savings schemes like FDs and RDs, advertising itself as a reliable financial institution. It initially paid returns to gain trust, but by 2023, payouts stopped, and excuses like “system upgrades” were cited for delays.
Investors claimed that society officials severed all contact and failed to return the maturity amounts, amounting to a large-scale financial fraud.
The case now hinges on verifying whether celebrity endorsements played a direct role in the fraudulent inducement of public investments.