Ahmedabad: An insurance agent from the Thakkarbapanagar area of the city filed a complaint on Thursday with the Detection of Crime Branch (DCB) police, alleging that three members of a family living in New Ranip cheated her of Rs 2 crore in an investment fraud.
The agent, a 46-year-old woman who runs her office in Vejalpur, stated in the FIR that the family cheated her under the guise of offering her substantial returns on investment in the share market.
She mentioned that a common friend introduced her to the family. The family told her that their firm was registered with SEBI (Securities and Exchange Board of India).
She stated in the FIR that the family members claimed they had connections in the stock market, which they used to manipulate stock prices and gain significant benefits. They allegedly told her that she would receive 40% to 60% returns on her investment.
Convinced by the offer, she invested around Rs 1.88 crore in the family’s firm until Feb 2024. However, as she did not receive any benefits, she conducted her own inquiry and discovered that the family had made false promises.
She approached the DCB and submitted a complaint with the Economic Offence Wing (EOW) of the crime branch. Based on her complaint, the DCB registered a case of breach of trust, cheating, and abetment under IPC, along with charges under the Gujarat Protection of Interest of Depositors (in financial establishments) Act, and began an investigation.