Surat’s Shah couple who received awards from Gujarat CM, HM arrested by CID Crime in multi-crore investment scam

A well-known couple in Gujarat, owners of Shah’s Investment based in Surat who projected themselves as leading financial advisors, even received awards from Gujarat Chief Minister Bhupendra Patel and Harsh Sanghavi, are now behind bars. The CID Crime has arrested them in a ₹1.33 crore scam.

The Shah Investment office was run under the name of share trading at Silver Stone Accord on Singanpor-Causeway Road in Surat. The owners and operators were Hardik Shah and his wife Pooja Shah. 

As per the complaint, they promised investors 12–15% returns within 100 days. To promote their scheme, the couple also advertised through well-known influencers and celebrities, including Gujarati actor Janki Bodiwala, Pooja Joshi, and Mitra Gadhvi, social media influencer Khajur Bhai (aka Nitin Jani). Attracted by these endorsements, commoners and traders invested thousands to lakhs of rupees.

After several investors failed to get back their money, they lodged complaints, which exposed the entire scam. Within just two days, a second case was filed against the Shah couple at the CID Crime. So far, CID Crime has registered a cheating case involving an estimated ₹1.33 crore and is conducting further investigations. Currently, the couple is in jail at the Chowk Bazaar Police Station in connection with the fraud case.

Preliminary investigations revealed that from the proceeds of the money, the couple had set up two luxurious offices—one in the Singanpor area and another in the Adajan Pal area—spending crores of rupees in a few years.

Notably, four victims have so far filed complaints after falling prey to this couple’s scheme. Two complaints were filed at Chowk Bazaar Police Station, while two others were registered with CID Crime. More victims are expected to come forward and more individuals could be implicated in the scam, potentially revealing an even larger scale of fraud.

Shah’s Investment website states they received an award for ‘Most Inspiring Company of Wealth Management and Financial Planner’ by the Gujarat CM.