Ahmedabad: A 41-year-old former engineer from Gota has accused his nephew and the nephew’s wife, both chartered accountants, of orchestrating a financial fraud of over Rs 10 crore by allegedly luring him and his relatives into a share market investment scheme, concealing losses and using forged banking documents.According to the complaint, the victim, who has been unemployed for the last six months, had entrusted the accused couple with handling his family’s accounts and income-tax matters since 2014. The complainant stated that his nephew later convinced him to invest in stock market trading, including the futures and options (F&O) segment, claiming that he worked as an investment agent who could generate fixed returns of 3% per month or provide an equal share in the profits.The complainant alleged that the nephew opened an online demat account in his name but retained complete control over the login credentials, stating that he needed access because he would be operating the account himself.Trusting the arrangement, the complainant said he transferred funds into several bank accounts linked to his nephew over the years. He alleged that the nephew regularly shared WhatsApp messages, excel sheets and profit statements showing gains, while deliberately concealing losses.The complaint further stated that the accused couple persuaded him to arrange additional funds by taking a home loan, liquidating mutual fund investments, surrendering insurance policies and even selling family gold. It is alleged that the nephew, having access to various family bank accounts, transferred money himself and provided fabricated profit statements generated from his laptop and mobile phone to maintain the illusion of successful investments.The complainant has alleged he and his relatives transferred a total of Rs 10.4 crore over the years. However, he claimed that only Rs 2.4 crore was actually invested in the demat account, while the remaining amount was allegedly diverted elsewhere. The invested amount later reflected losses of Rs 1.3 crore, the complaint stated.The complainant also accused his nephew of fabrication of banking records during a visa-related process. According to the complaint, the nephew assured the family that he would arrange a bank certificate and subsequently provided what was later suspected to be a fake balance certificate showing Rs 90.2 lakh and a forged deposit slip reflecting a Rs 50 lakh credit.The complainant further alleged that when confronted, the nephew admitted that he had neither invested the entire amount nor possessed the money and that the representations made earlier were false. The complaint also accuses him of threatening the family with false legal cases.Police have registered the complaint and are expected to investigate the alleged diversion of funds, authenticity of the financial documents and the role of both accused in the alleged fraud.
