Ahmedabad duo cheat real estate agent of ₹25 lakh with 'Relicare Fresh' scheme

The Ahmedabad Police have registered a case against two men for allegedly duping a real estate businessman of nearly ₹25 lakh by luring him to invest in a fictitious firm under the promise of lucrative returns within 42 days.

Naranpura resident Nilay Mayurbhai Shah (35) in his complaint has accused Alkesh Trivedi and Vikram Ranchhodbhai Parmar of inducing him to invest in a company called Relicare Fresh, claiming it was engaged in the grocery and FMCG stock business.

Shah, who runs a real estate business from home, said that he had known Alkesh Trivedi for several years. In March this year, Trivedi reportedly introduced Shah to his associate Vikram Parmar. The duo claimed that they had opened Relicare Fresh and were looking for 'super stockists' who would be offered “high returns within 42 days”.

Believing their claims, Shah said he initially invested ₹8 lakh on March 24, 2024 through a cheque in the name of Relicare Fresh. The accused allegedly issued a pre-approval letter on company letterhead to gain his trust. Over the next two months, Shah and his father, Mayurbhai Shah (79), transferred additional amounts, in multiple instalments, from their HDFC, Axis and Canara Bank accounts, amounting to a total of ₹24.97 lakh.

The transfers were made between March 24 and May 24, 2024, with the accused assuring Shah that the money would be used for business expansion, including setting up a mall project in Mansa for which Shah would receive “advance rent” of ₹1.49 crore for 21 months.

Later, the accused allegedly demanded another ₹87,600, claiming it was needed to install Wi-Fi in the proposed Mansa mall. Shah transferred this amount as well. However, when he asked for his investment returns and cheques, the duo allegedly began evading him.

Upon verification, Shah discovered that Relicare Fresh was a non-existent company, existing only on paper. He alleged that from the very beginning, the accused had conspired to defraud him by creating false business documents and misrepresenting the company’s operations.

After realising the fraud, Shah approached the police and lodged a formal complaint. Based on his statement, the Chandkheda Police registered a case under relevant sections of the BNS, including cheating, criminal breach of trust and criminal conspiracy, along with provisions of the Gujarat Police Act.

Police said that both accused, Trivedi and Parmar, are currently absconding, and efforts are underway to trace them. Investigators are also verifying the bank accounts through which the alleged transactions took place.

A senior police officer said, “Preliminary inquiry suggests that the accused floated a fake investment firm to lure individuals with promises of short-term high returns. The total amount defrauded in this case is around ₹25 lakh. Further probe is on to ascertain if more victims were targeted under similar schemes.”