Mumbai, March 28 : Actor Shreyas Talpade's team has issued an official statement in the light of him being named in a multi-crore chit fund scam.

They have rubbished the reports of the actor being named in the scam, and have termed the actor's involvement in fraud or misconduct as completely false and baseless.

The actor's team said in the statement, '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. 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'.

The team said that beyond such appearances, the actor 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. 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', he added.

On Thursday, Shreyas found himself facing fresh legal trouble as a new fraud case was registered against him and 14 others in Uttar Pradesh. The chit fund scam reportedly operated in Mahoba district of Uttar Pradesh for over a decade.

Earlier, it was reported in the media that a company called The Loni Urban Multistate Credit and Thrift Cooperative Society Limited, which targeted villagers by promising high returns on investments.

The company's agents are said to have collected large sums of money from locals, as they lured them with the claim that their investments would double within a short period, a stark reminder to what happened with Bollywood superstar Akshay Kumar in 'Phir Hera Pheri'.

Meanwhile, the superstar and Shreyas will be seen sharing the screen in 'Welcome to the Jungle'.

/IANS