Ahmedabad: A 49-year-old real estate businessman, introduced to an online investment scheme in 2023 by an acquaintance, allegedly lost Rs 21.7 lakh. He has filed a complaint with the Detection of Crime Branch (DCB) stating that he was told his investment in the Uttar Pradesh company would generate substantial returns over five to 10 years.The complainant alleged that he was shown the company’s website, brochures and investment plans and was also put in touch with its management. After being assured that his investment would be secure and that he would receive good returns, he decided to invest. Between Aug 2023 and April 2024, the complainant allegedly transferred money through multiple bank accounts and online payment platforms into accounts linked to the company and its associates.The complainant said he initially received around Rs 50,000 as returns in the form of USDT. No further returns or repayment of the principal amount were allegedly made.When he contacted people associated with the scheme, he was allegedly told that the company was facing financial difficulties and was asked to wait. In March 2025, he visited the company’s office and was assured that the investment would be repaid by July 2025 after the company developed a land-related project.The payment allegedly never materialised. Calls allegedly went unanswered or resulted in requests to seek repayment from other associates. DCB has registered the case and is investigating the alleged cheating and criminal breach of trust. The complaint was registered under Indian Penal Code.
