Forex Scam Worth Lakhs: Former Sales Manager Booked for Forging Corporate Accounts in Ahmedabad

Police in Ahmedabad have registered a fraud case against a former sales manager of a money exchange firm for allegedly siphoning off foreign currency worth ₹40.09 lakh using forged documents of non-existent employees.

The complaint was lodged at Navrangpura Police Station by Parag Shaktiprasad Bhatt, Gujarat Cluster Head of the money exchange company. Officers have launched an investigation into the accused, identified as Devendrasinh Lalsinh Gohil.

Gohil joined the company in February 2025 on a monthly salary of ₹58,333. His core responsibility was to acquire corporate clients and facilitate foreign exchange services for their employees traveling abroad.

According to the complaint, Gohil successfully brought several corporate accounts into the firm's system. To process foreign currency requests, he routinely submitted KYC documents, passports, business letters, and flight tickets of the beneficiaries.

However, between October 2025 and February 8, 2026, Gohil allegedly generated fraudulent foreign exchange requests using credentials of individuals falsely claimed to be employees of four corporate clients:

• Viking Industries: Invoices amounting to ₹12.02 lakh
• Ramsons Drugs: Invoices amounting to ₹11.58 lakh
• Alight Projects: Invoices amounting to ₹9.79 lakh
• Chiccem Medical: Invoices amounting to ₹6.68 lakh

Based on these submissions, the company processed the transactions and released foreign currency totaling ₹40.08 lakh.

The primary fraud came to light when payment for the invoices remained pending for an extended period. When questioned by company officials, Gohil reportedly offered evasive replies. Suspicious of the delays, company representatives directly approached the directors and accounting heads of the four firms.

The inquiries revealed that none of the four companies had authorized or raised the invoices in question. Furthermore, the individuals listed as beneficiaries on the travel documents were never employed by those corporate entities.

The complaint also notes that Gohil personally showed certain business-travel authorization letters to company officials with a promise to submit them later, but retained the physical documents himself to bypass internal checks.

Navrangpura Police have booked Gohil for breach of trust, forgery, and cheating. Further investigation is underway to trace the misappropriated foreign currency and determine if others were involved in the operation.