Gujarat Cyber Police Nab Nine in Major Investment Fraud Crackdown
The Cyber Centre of Excellence (CCoE) of Gujarat police made a significant breakthrough on Tuesday. They busted four separate investment fraud cases and arrested nine accused individuals. The total value of these scams amounts to Rs 35.4 crore. However, the investigation uncovered a much larger network of financial deception.
Nationwide Complaints Reveal Extensive Fraud Network
While the four specific cases involve Rs 35.4 crore, complaints filed on the National Cyber Crime Reporting Portal (NCCRP) tell a broader story. Victims from over 22 states and 5 Union Territories reported frauds linked to the bank accounts used in these schemes. The cumulative proceeds of crime from these complaints exceed a staggering Rs 564 crore, according to the agency.
The accused allegedly lured people into fake investment schemes. They built trust by providing minor initial returns before cheating victims of large sums. One arrestee hails from Maharashtra, while the others are from Gujarat.
Unjha Case: Rs 26.66 Crore Scam with International Links
The largest of the four cases involved a complainant from Unjha in Mehsana district. He was allegedly cheated of Rs 26.66 crore. Police arrested two persons in this case: Rajeshkumar alias Kapil Prahlad Chaudhary (34) and Dharmendrakumar Harshad Rawal (35).
The accused contacted the victim via WhatsApp with a lucrative investment offer. They sent a fake web page link for the FINALTO stock trading website. After an initial investment of $500, they gave a return of $101 (Rs 43,500). This established false credibility.
Between August 7 and October 7, 2025, they managed to extract Rs 26.66 crore from the complainant. The CCoE stated that the accused then sent the money abroad. It went to an international cybercriminal racket in exchange for commission.
Investigators found 12 bank accounts in the names of the two accused. Complaints on the NCCRP showed transactions worth Rs 87.84 crore had passed through these accounts.
Ahmedabad Fraud: Rs 2.32 Crore Lost in WhatsApp Group Scam
In the second case, the accused added the complainant to a WhatsApp group named Premji Invest. They posed as investment consultants. They convinced the victim to download an application and "invest" Rs 2.32 crore, promising massive profits.
The CCoE traced the money to a bank account owned by a shell firm named Radhe Automobiles. At least 22 other complaints were filed against these bank accounts on the NCCRP. Victims from nine states reported cheating worth Rs 8.45 crore.
Police arrested two Ahmedabad residents: Rahul Mukesh Patel and Prashant Mannappa Badigar.
Tharad Scam: Four Arrested in Rs 3.9 Crore Deception
The third case led to the arrest of four persons from Tharad town in the newly-created Vav-Tharad district. They duped a complainant of Rs 3.9 crore. The arrested individuals are Rama Lalji Pandya, Darshankumar Haresh Purohit, Amarat Hameer Joshi, and Raghuram Bhura Pandav.
The accused approached the complainant over WhatsApp, claiming to be registered investment brokers. They asked him to download the 'Rockcreeak' mobile application and persuaded him to invest.
They later claimed they were under investigation by the U.S. Securities and Exchange Commission (SEC) and that their accounts were frozen. Luring the victim with "charges" to withdraw his "invested" money, they allegedly made the complainant and his daughter deposit Rs 3.9 crore.
The CCoE found the accused had opened 126 bank accounts in the name of a company called Darshan Parlour. Against one bank account, they found 30 complaints from 10 states on the NCCRP, with transaction amounts of Rs 11.83 crore.
Against all 126 bank accounts, the CCoE allegedly discovered 428 complaints from 23 states and five UTs. The total amount involved reached Rs 460 crore. Further investigation continues.
Maharashtra Connection: Arrest in Rs 2.52 Crore Fraud
In the fourth case, the CCoE arrested Sandip Punjaji Tayade from Thane, Maharashtra. He allegedly cheated a complainant of Rs 2.52 crore.
The complainant saw stock market news videos on YouTube. Below the video was a link for a company named SY Yashwi. After clicking, the accused contacted him on WhatsApp. Tayade claimed association with Yashwi Securities Pvt Ltd, which he said was a SEBI-registered broker.
The victim received stock market trading tips and was added to a WhatsApp group called HY-50insider Stocks-trading. He was duped into downloading an application named IndoBrit Yashwi-TradeHive. The accused then lured him into investing Rs 2.52 crore.
The CCoE stated that Sandip Punjaji Tayade, along with co-accused Vikrant Mishra and Shrikant Maruti Shinde, registered a company called M/s Suryamoto EV India Pvt Ltd. They opened a bank account in its name.
Investigation revealed 20 complaints from 12 states against these accounts, with cheating amounts reaching Rs 7.74 crore. There are seven FIRs in five states against the accused persons. Further investigation is underway.
