Police Recover Over ₹53 Lakh in Gujarat Investment Scam

Following a high‑profile cyber‑fraud case in Valsad, Gujarat, law enforcement has successfully returned more than ₹53 lakh to the aggrieved investor. The investigation originated from a complaint by a trader who had been coaxed into depositing ₹1.46 crore into accounts linked to a sham brokerage named Veladi In Brokerage Private Limited.

The fraudulent operation was orchestrated through two WhatsApp groups—B125‑Veladi Vision VIP Circle and 460‑Veladi Vision VIP Circle—where members were enticed with promises of extraordinary profits from bulk share trading. After receiving the money, the conspirators displayed fake gains on a trading app and then demanded an extra 15 percent commission before permitting any withdrawal.

When the victim tried to retrieve his earnings, the perpetrators stalled and attempted to siphon additional funds, prompting the victim to involve the cyber‑crime police. The investigation uncovered that a substantial portion of the money, ₹18.7 lakh, had already been credited to the bank account of suspect Mehul Kachhua.

Authorities registered the case under several sections of the Indian Penal Code, 2023, and the Information Technology Act, 2000, covering cheating, criminal breach of trust, and cyber offenses. Earlier, a third suspect, Narendra Mali, was apprehended; his banking records showed transfers to Bhargav Solanki, Tinkesh Padiyar and Kachhua, all connected to Malgarh in Disa district.

Coordinated raids across Disa and Rajasthan, coupled with analysis of mobile logs, bank statements, and social media data, enabled investigators to track the suspects. Intelligence indicated that the two main accused would return to Malgarh on September 12 for a local religious ceremony, leading to their arrest by the cyber‑crime team.

In collaboration with the 1930 cyber‑helpline, police facilitated the recovery of ₹53,97,797 for the complainant. The department urges citizens to remain cautious of investment schemes advertised on WhatsApp, Telegram, Facebook, and Instagram that guarantee daily returns, double‑money promises, or VIP trading privileges. It advises verifying SEBI registration and avoiding sharing OTPs, UPI pins, passwords or bank details with unknown entities.