Ahmedabad: Trust turned into treachery as a fraud of Rs 4.5 crore soured a long-established bond of 35 years. The owner of a well-known namkeen brand accused a firecracker businessman, his wife, and two sons, of exploiting their deep-rooted ties to secure funds they never intended to repay.
Between 2010 and 2016, the accused individuals allegedly secured a total of Rs 3.57 crore in cash and Rs 92.77 lakh by cheque, cumulatively amounting to Rs 4.5 crore, which they assured would be repaid. According to the complaint of cheating and breach of trust filed with Shahpur police on Friday, the family submitted a written document pledging to transfer the ownership of their firecracker shop outside Delhi Darwaza and a house in Sardarnagar as security on Dec 26, 2017. However, after handing over the shop’s keys, they sold the property to another party, blatantly violating the agreement.
The complainant, who had long provided financial assistance to the firecracker businessman from Chandkheda, detailed in his complaint how the family’s deception spanned years of close association.
“I used to work at our company’s retail office outside Delhi Darwaza. The businessman and his two sons would often visit my office. Whenever he needed money for his business, I would provide financial assistance. In total, they borrowed Rs 4.5 crore,” he told the police.
“Despite my repeated requests for repayment, the businessman and his family did not return the money. On Dec 26, 2017, they gave me a written document as security, stating that they give me their firecracker shop and house. They promised to provide the legal ownership documents for these properties and repay the remaining amount. However, despite handing over the shop’s keys to me, they sold it to another party later,” the complainant further told police.
He said that he filed a complaint with Naroda police in Jan 2023, which was later transferred to Shahpur police station for investigation.
“Eventually, the Ahmedabad police commissioner approved the filing of a case based on my application. I was out of town and returned to file this complaint,” he wrote in his police complaint.