Surat: A Mumbai resident has been arrested for allegedly posing as a cyber-forensics and cryptocurrency official and cheating a Surat-based petrochemical businessman of Rs 1.24 crore through promises of high investment returns, police said on Friday.Police arrested 34-year-old Mumbai resident Priyank alias Prem Vyas in connection with the alleged fraud. Investigators said he duped a petrochemical businessman by promising attractive returns on investment.According to the FIR, complainant Hiren Chevli, who runs a petrochemical business, became involved in the proposed investment during a loan-related meeting with chartered accountant Rohan Kelawala in Nov 2025. Kelawala allegedly told Chevli that he assists investors in forex trading and works with a person who delivers high returns on investments.The complaint states that Kelawala later introduced Chevli to Vyas at a hotel in Mumbai. During the meeting, Vyas allegedly displayed an identity card bearing the words “Cyber Forensic Department” along with the national emblem and national motto, claiming that he was a govt official. Police said the ID card was allegedly used to establish credibility and gain Chevli’s trust.According to the FIR, Vyas sought Rs 18 lakh as a renewal fee for a “terminal” and promised to return Rs 30 lakh within 60 days, along with a 20% partnership in the business. Chevli allegedly paid Rs 18 lakh in cash in Jan 2026 after accepting the assurance.The complaint further alleges that the accused continued to collect money on various pretexts linked to the proposed investment and related procedures. The total amount paid allegedly rose to Rs 1.29 crore.Police said Rs 4.70 lakh was returned to the complainant, while the remaining amount was not repaid. Following the complaint and a preliminary inquiry, a case was registered and the suspect was arrested on charges of cheating and misrepresentation.Further investigation is underway to verify the alleged impersonation, trace the money trail and ascertain whether any other persons were involved in the fraud.
