Ahmedabad: A case was filed at Naranpura police station against a couple for fraudulently conducting transactions worth Rs 88 lakh from their client’s demat account without authorisation.
The police charged the couple under multiple sections of the Indian Penal Code (IPC), including forgery, criminal conspiracy, cheating, and criminal breach of trust. They were booked based on a complaint filed by a 44-year-old Satellite resident.
The complainant stated that she met the couple through a family friend. The couple, who claimed to manage finances, helped her open a demat account for her mother, with the wife serving as the person authorised to conduct transactions.
The complainant transferred Rs 16 lakh from her gratuity and PF funds through her mother’s account. Following their guidance, she invested Rs 41 lakh in various company shares between April 2022 and March 2023.
She requested the couple to stop trading in her mother’s account in March 2023 due to health concerns. By March 31, 2023, her trading account contained shares valued at Rs 55 lakh and Rs 3 lakh in deposits.
In Oct 2023, the complainant discovered that share values plummeted from about Rs 20 lakh to Rs 12 lakh, raising suspicions. Upon investigation, she found discrepancies in the statements. She found that the couple conducted unauthorised transactions without her permission.
The complainant stated that the accused also created fraudulent documents with forged signatures. She filed a complaint at Naranpura police station in Aug 2024, alleging cheating of Rs 88 lakh and document forgery, which was converted into an FIR on Monday.