MUMBAI, Sept. 16 -- The Economic Offences Wing (EOW) of Mumbai Police on Monday recorded a detailed five-hour statement from businessman Raj Kundra in connection with a Rs.60-crore alleged fraud case implicating him and his actress wife, Shilpa Shetty. Police said preliminary investigations revealed that significant funds flowed from Kundra's company to Bollywood celebrities labelled as fees and other charges. "We recorded Kundra's preliminary statement where he claimed the payments were legitimate expenses or fees due to the recipients," said a senior EOW official. "We are scrutinising the financial records and may summon him again next week, if required." The statement was recorded under the supervision of DCP Nimit Goyal. So far, investigators have identified payments routed to five companies - Satyug Gold, Vihaan Industries, Essential Bulk Commodities Pvt Ltd, Best Deal, and Statement Media. Kundra reportedly told police that approximately Rs.20 crore was disbursed as broadcasting fees and Rs.3 crore for warehouse rent, along with celebrity fees. A police officer further stated, "We are probing why Shilpa Shetty, despite being a director, allegedly received celebrity fees from the same firm. She will be called in for her statement shortly." The EOW has also flagged irregularities related to equity shares allotted to the complainant, with no proper valuation conducted. Authorities have requested access to promotional videos featuring the celebrities, but were informed that, in a prior case against Kundra linked to pornographic content, all videos had been seized. The EOW plans to write to the Crime Branch seeking clarification. The Rs.60-crore fraud case stems from a complaint filed by Deepak Kothari, a 60-year-old Mumbai businessman and director of Lotus Capital Financial Services. Kothari alleged that between 2015 and 2023, the couple misappropriated funds he had invested to expand their business, diverting them for personal use. According to the FIR registered in Juhu on August 13, Kothari was introduced to Kundra via a mutual contact and was told the couple held an 88% stake in Best Deal TV. Initially agreeing to provide a Rs.75-crore loan at 12% annual interest, Kothari was later convinced to treat it as an investment to avoid tax implications and promised better returns. Kothari transferred the amount in instalments starting in 2015 but soon learned that insolvency proceedings had been initiated against the company for allegedly cheating another investor. Shetty stepped down as director in 2016. Kothari claimed repeated repayment delays, with Kundra citing the Covid-19 pandemic as the reason. Following a preliminary probe, the EOW determined that Kothari's funds were misused. An FIR was registered against Shetty, Kundra under IPC sections 403 (criminal breach of trust), 406 (dishonest misappropriation), and 34 (common intention). On September 6, a lookout circular was issued against Kundra and Shetty as the couple makes frequent international trips....