Ahmedabad: A 43-year-old broker from Vadodara has alleged that he was cheated of Rs 15 lakh by two individuals who promised to grow his investment to Rs 25 lakh within 10 months through a stock market scheme. The amount was collected in cash, but the promised returns never materialised and the security cheque issued to him was later bounced.According to a complaint lodged with Chandkheda police on Friday, the broker was introduced to an investment firm by a woman acquaintance, who assured him of monthly returns of Rs 2.5 lakh on an investment of Rs 15 lakh. He was allegedly told that the payment had to be made in cash and that the agreement could only be executed in Ahmedabad.To arrange the funds, the broker withdrew Rs 5 lakh from his bank account on July 15, 2025, while two of his aunts withdrew Rs 5 lakh each on the following day.On Sept 16, he visited an office in a commercial complex at Jagatpur, where he met the woman and the firm’s proprietor. The parties signed an agreement for a 10-month investment plan, and the broker was given a cheque from a private bank as security.However, even after two months, he did not receive any returns. The woman allegedly attributed the delay to the proprietor’s financial troubles and assured him that she would arrange repayment.The broker deposited the security cheque on Nov 15, 2025, but it was returned due to an alteration. When he later visited the address mentioned in the agreement, he allegedly discovered that the flat had remained locked for nearly two years.The complainant has also filed a cheque-bounce case in a Vadodara court. In his complaint, he alleged that the duo conspired to win his trust, induce him to invest, and then withhold his money.
