Actor Amar Upadhyay files case against investment firm

Upadhyay, in his complaint, said he had met the two directors of the company in April 2022, when they promised him good returns if he invested his money with them

Mumbai: Actor Amar Upadhyay has filed a police complaint against the directors of an investment management company for allegedly duping him of investments worth ₹1.25 crore.

Actor Amar Upadhyay files case against investment firm

Upadhyay, in his complaint, said he had met the two directors of the company in April 2022, when they promised him good returns if he invested his money with them. The actor initially invested ₹20 lakh, after which they allegedly told him that if he invested more, he could make anywhere between ₹5 crore and ₹15 crore by 2026, said an officer from the Versova police station.

Upadhyay eventually ended up investing around ₹2.5 crore with the company. He alleged the company kept re-investing the returns and told him he was getting good profits. He even claimed the company forged his account statements to show profits.

The police have registered a case under Indian Penal Code sections 34 (common intention), 406 (criminal breach of trust), 465 (forgery), 409 (criminal breach of trust by public servant or by banker merchant) and 420 (cheating).

Upadhyay is known for starring in popular television soaps like Kyunki Saas Bhi Kabhi Bahu Thi (2000–2002), Kalash (2000–2002), Kasautii Zindagii Kay (2005), Kkusum (2005) and Molkki (2020–2022).