Ahmedabad: A 48-year-old businessman from the city allegedly lost Rs 5.7 crore after three Vadodara residents offered him investment opportunities in their business and commercial properties. He later learnt that the properties had allegedly already been mortgaged, leased or sold.Vastrapur police registered a case of cheating, forgery and criminal conspiracy against a woman from Tarsali, her husband and her brother on Thursday.The complainant, a resident of Thaltej, said a chartered accountant introduced him to the woman in 2021. He told police, “The woman, who was running a consultancy, said she was facing financial difficulties and convinced me to invest in her ventures.”The trio allegedly offered to sell three properties — six adjoining offices at Mayfair Corporate Park, an office at Sterling Centre in Alkapuri and a bungalow in Manhar Park — for Rs 97.2 lakh.The complainant told police he paid Rs 25 lakh in May 2021 and received notarised agreements for the properties. He subsequently paid Rs 55 lakh in instalments, taking his total payment to Rs 80 lakh.“Despite repeated requests, they did not hand over possession or execute sale deeds. Instead, they asked me to make the remaining payments, assuring that the documents would be ready soon. Between Oct 2022 and 2025, I invested Rs 4.9 crore in their business ventures. I also made part of the payment in cash,” he told police.The issue allegedly came to light when the complainant’s lawyer sought title clearance for the properties. “Before the three drew up a notarised agreement in my favour, they had already mortgaged the bungalow to a bank and executed a registered agreement to sell it,” the complainant told police.He further alleged, “Similarly, the Mayfair offices were leased and subsequently sold to another person in Dec 2021 before the accused signed an agreement with me.”
