Actor Shreyas Talpade Refutes Chit Fund Fraud Allegations, Calls Them False, Baseless

Actor Shreyas Talpade has been in the news lately for his alleged involvement in financial frauds, including a chit fund scam. On March 28, 2025, he finally responded to the allegation on social media platform X (formerly Twitter), calling the charges as ‘completely false and baseless’.

The Allegation

According to media reports, the actor has been implicated in a chit fund scam involving ‘The Loni Urban Multistate Credit and Thrift Cooperative Society Limited’. 

The company allegedly defrauded people in the Mahoba district of Uttar Pradesh over the years by promising them to double their investment in a short period of time.  

Based on the alleged association of the actor with the company, the actor has also been named in the FIR regarding the financial fraud by the company.  

The actor was named in an FIR last year also. It related to an alleged scam worth Rs 9 crore and a multi-level marketing scheme in Sonipat, Haryana, according to a News18 report.

Talpade’s Response

Talpade’s post on X dated March 28, 2025, reads, “It is deeply unfortunate that in today’s world, a person’s hard-earned reputation appears to be vulnerable to undue tarnishment by unfounded rumours. Recent reports alleging Mr. Shreyas Talpade’s involvement in fraud or misconduct are completely false, baseless, and devoid of any merit whatsoever".

The three-part response further reads, “As a public figure, Mr. Talpade, like many other celebrities, is frequently invited to various corporate and annual events, which he attends as and when possible. Beyond such appearances, he has no association whatsoever with the company in question. Needless to say, Mr. Talpade has no nexus whatsoever with any fraudulent or unlawful acts as are being alleged and/or circulated”.

In the final part of the statement, Talpade’s team urges people to not believe the rumours. 

“We urge everyone to verify facts before spreading misinformation and request that Mr. Talpade’s name be kept away from these baseless rumors. Mr. Talpade is a law-abiding citizen who remains committed to maintaining the highest standards of integrity, honesty, and professionalism in all of his endeavours,” it reads.

The actor’s X statement clarified no involvement in the scam; however, the probe will continue.