Surat Police Nab Serial Fraudster in Multi-Crore Investment Scam
The Economic Offences Cell (EOC) of the Surat police has made a significant arrest, apprehending a habitual fraudster involved in a high-value investment scam. The accused, identified as Bharat Bharwani, a 52-year-old builder, allegedly cheated six individuals of a staggering Rs 1.07 crore by enticing them to invest in a proposed 11-storey hotel complex with apartment-style flats in Daman.
Details of the Fraudulent Scheme
Bharwani launched the project under the name Sky Deck, promoting it as a three-star hotel development. He initiated preliminary work on the site, creating an illusion of legitimacy to attract investors. However, police investigations reveal that he later sold the land to another party and diverted the collected funds for personal purposes, leaving investors empty-handed.
One of the victims, Arvind Chevli, a 72-year-old resident of Surat, invested Rs 60.54 lakh in the project. In total, Bharwani collected Rs 1.07 crore from six investors by promising them apartments within the complex, but he failed to deliver any flats or returns, betraying their trust.
Accused's Criminal History and Modus Operandi
Officials have described Bharwani as a serial offender with an extensive criminal record. At least seven cheating cases have been registered against him at various police stations, including Khatodara, Athwalines, and Sachin. Additionally, 35 cheque bounce cases have been filed, highlighting his pattern of financial misconduct.
Due to his persistent criminal activities, the Surat police commissioner invoked the Prevention of Anti-Social Activities (PASA) Act against him in 2025, leading to his imprisonment. ACP (EOC) GA Sarvaiya explained, "The accused would launch projects such as hotels or residential complexes and lure investors with promises of high returns. His modus operandi was to collect money during the project stage and then cheat the investors midway." He specifically launched the Sky Deck project on two plots in Kathiriya village in Daman before selling the land.
Ongoing Investigation and Search for Accomplice
Police are actively searching for a co-accused, Vijay Mehta, who allegedly assisted Bharwani in executing the fraud. The investigation aims to uncover further details and ensure all involved parties are held accountable. This case underscores the risks associated with investment schemes and the importance of due diligence.
The arrest serves as a warning to potential fraudsters and a reminder for investors to verify project credentials thoroughly before committing funds.
