Vadodara Man Alleges ₹15 Lakh Investment Fraud By Ahmedabad Woman, Build Future Proprietor

A 43-year-old Vadodara businessman has accused an Ahmedabad woman and a company proprietor of cheating him of ₹15 lakh through an investment scheme that allegedly promised returns of ₹25 lakh within 10 months.

The complainant, Parvez Sabbir Ali Syed, a brokerage professional from Bahar Colony on Ajwa Road in Vadodara, has lodged a complaint with Chandkheda police against Sonia Mohammad Faizan Sheikh and Jayesh Prafulchandra Shah, alleging cheating and breach of trust.

According to the complaint, the accused allegedly lured him into investing in Build Future, a stock market-related company, by promising monthly returns of ₹2.5 lakh for 10 months against an initial investment of ₹15 lakh.

The alleged transaction took place at the Center Point Complex in Ahmedabad's Jagatpur area on September 16, 2025.

₹15 Lakh Arranged Through Bank Withdrawals

Syed told police that he met Sonia Sheikh in Ahmedabad around one-and-a-half years ago. She allegedly introduced Build Future as an investment company and repeatedly contacted him, assuring him of attractive returns.

He claimed that Sheikh insisted on receiving the investment in cash. Although he requested that the agreement be executed in Vadodara, the accused allegedly asked him to complete the transaction in Ahmedabad.

To arrange the money, Syed withdrew ₹5 lakh from his HDFC Bank account on July 15, 2025. He allegedly arranged another ₹10 lakh through withdrawals of ₹5 lakh each from the ICICI Bank accounts of his relatives, Yasminbanu and Kurshidbanu, the following day.

On September 16, he visited the company's office at Center Point Complex in Jagatpur, where Sheikh and Shah were allegedly present. They entered into a 10-month investment agreement promising monthly payments of ₹2.5 lakh.

The company also issued a security cheque drawn on IndusInd Bank, signed by Shah on behalf of Build Future. Sheikh reportedly signed the agreement as a witness.

Security Cheque Returned As Cancelled

Syed alleged that he received no returns even after two months. When he approached Sheikh, she reportedly blamed Shah's financial difficulties and assured him that she would personally ensure the payments.

After waiting for the promised returns, Syed deposited the security cheque on November 15, 2025. However, the bank returned it with a memo stating that the cheque had been cancelled.

He also alleged that when he visited the company's registered office address, D/801, Shri Vishnudhara Garden, near Vishwas City 9 in Jagatpur, he found it closed.

When he contacted Sheikh again, she allegedly dismissed his concerns and assured him that his investment was safe.

Complainant Approaches Court And Chandkheda Police

Syed subsequently approached a court in Vadodara and filed a complaint under the Negotiable Instruments Act on March 5, 2026.

After allegedly failing to recover his money despite repeated assurances, he approached Chandkheda police on November 6, 2026, seeking action against Sheikh and Shah.

He submitted copies of the investment agreement, security cheque and bank return memo as supporting evidence.

Chandkheda police have registered a case and launched an investigation into the allegations of cheating and breach of trust.