<img src="https://static.gujaratsamachar.com/content_image/content_image_d5e1e3de-625a-4fc1-b1c1-aa04a192d093.jpeg" data-filename="content_image_e84f61aa-636a-4056-8f98-f5a14772be5f.jpeg" style="width: 100%;"> A financial fraud was uncovered in Fatehwadi, Juhapura, where a man allegedly duped several local residents out of ₹69 lakh by promising 2% monthly returns on investments in a car trading business. The accused, identified as Amin Memon, has reportedly absconded, locking his residence and leaving victims in distress.According to the complaint lodged at the Vejalpur Police Station by one Tanvir Daruwala, a resident of Muskan Bungalows, Amin had gained the trust of several locals by claiming to be involved in a profitable car buy-and-sell business. Many residents, including Daruwala, invested amounts.Trusting him, Daruwala initially gave him ₹2.5 lakhs in cash. Amin regularly paid him the 2% interest as promised. A few months later, Amin said he needed more money for the business. Since Tanvir Ahmed didn’t have spare cash at the time, Amin offered to help him get a loan, assuring him that he would pay the EMIs along with 2% monthly returns.Accordingly, Daruwala took a loan of ₹3.5 lakhs and gave it to Amin. The EMIs were deducted from the bank account of Daruwala’s son. Meanwhile, they found out that Amin had locked up his house and fled. It came to light that he had defrauded people of a total of ₹69 lakhs, using personal loans and VC schemes in the name of a car trading business.Preliminary investigations suggest the total fraud could exceed ₹1 crore. Police are currently probing the case and searching for the accused.

A financial fraud was uncovered in Fatehwadi, Juhapura, where a man allegedly duped several local residents out of ₹69 lakh by promising 2% monthly returns on investments in a car trading business. The accused, identified as Amin Memon, has reportedly absconded, locking his residence and leaving victims in distress.

Man defrauds residents of Juhapura-Fatehwadi, absconds with ₹69 lakh

Fatehwadi

Juhapura

Vejalpur-Police-Station

Man defrauds residents of Juhapura-Fatehwadi, absconds with ₹69 lakh

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