SURAT: The local crime branch (LCB) of Navsari police on Sunday arrested four persons after booking six on the charges of cheating a businessman to the tune of Rs 2.17 crore in the name of collecting the money as fixed deposit for a bank that was fake.
The four arrested have been identified as Kalpesh Kothari, Firdaush Ghai, Riya Shah and Yogesh Rajput.They, along with two others, have been booked under provisions of IPC and Gujarat Protection of Interest of Depositors (GPID) Act.
While an FIR has been filed at Navsari town police station, the investigation in the case has been handed over to the LCB. The investigators suspect that the fake bank has cheated others. The police will produce the arrested accused in the GPID court in Surat on Monday.
According to the case, Kothari and Ghai came in contact with Navsari resident Chandrakant Patel (54), a jewellery businessman, as Kothari wanted to buy Patel’s house. On December 4, 2022, Kothari and Ghai came to a family function of Patel. At that time, Kothari told Patel to visit his bank ‘Padmavati Finvex Nidhi Ltd’.
When Patel visited the bank, Kothari told him that his bank gives all facilities like FD and loan. Two Mumbai men — Jitu Patel and Vishal Patel — who used to visit the fake bank also told Patel that the bank gives higher interest on FD than other banks.
Kothari also lured Patel by telling him that he will get RBI clearance to issue shares of his bank soon. He told Patel to buy FD which he would convert into shares of Rs 10 each. He also told Patel that the share price will soon rise to Rs 180.
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