Gym owner's expansion dream sunk by 50L investment fraud
Ahmedabad: A gym owner from the city hoping to expand his business was allegedly cheated out of Rs 50 lakh by a group of individuals who promised high returns through investments in a company.
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He had saved the money for his expansion plans, he stated in his complaint filed with CID Crime on Thursday. According to case details, the man runs a fitness centre with branches in Gota, Bodakdev, and Makarba. From Rs 50 lakh saved from profits, he was planning to open a fourth branch near Akhbarnagar. The complaint states that he shared this plan with a friend who introduced him to a man claiming to offer investment schemes with good returns via RTGS.
The complainant met several individuals, including a man named Madhavrao Ugale and others, at different locations in Ahmedabad and Surat. He was shown documents of a company named MOS Utility Limited and was assured of high returns through legal bank transactions.
On March 19, the complainant and his team went to an office in Surat where a person named Sudhir, posing as an employee of a firm named Patel Rajeshkumar Kantilal Angadia Pedhi, accepted the Rs 50 lakh in cash.
He gave them a torn Rs 10 note and instructed them to return with it to receive their investment back. Sudhir then left saying he was going to another branch to count the money, but never returned.
The complainant later found out that the office and the man's business card were fake, and the angadia firm was fictitious. Only Rs 40,000 was returned through multiple small RTGS transactions. A cheque of Rs 50 lakh issued later by one of the accused also turned out to be fraudulent.
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The complaint names Madhavrao Ugale, Sudhir, a man identified as Vicky, and one Ankit Kumar Mishra from Surat, and an unnamed person, and accuses them of forming a group to deceive the complainant using fake documents and setups.
CID Crime has booked them under the Bharatiya Nyaya Sanhita for cheating and criminal breach of trust.
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