A woman, her husband, and an associate were apprehended for defrauding investors of ₹1.61 crore by promising a guaranteed monthly return of 4% through a company named Amstrade Capital, which was set up in Ahmedabad’s Naroda and Bapunagar. 

The police discovered 166 contracts with investors during an investigation conducted at a property in Chiloda. These contracts revealed investments totaling amounts in crores.

A lawyer named Sujalbhai Sonlanki, residing in Naroda, filed a complaint with the Economic Offenses Wing of the Ahmedabad Crime Branch. The complaint stated that Amit Prajapati, his wife Sandhya, and Amit’s brother Nilesh Prajapati had set up offices under the name Amstrade Capital at Naroda Road. They promised investors a guaranteed monthly return of 4% and defrauded numerous individuals, resulting in a total scam of ₹1.61 crore.

Following this complaint, Police Inspector D M Vasava and his team arrested Amit, Sandhya, and Nilesh Prajapati and conducted an investigation at Coral Bungalows in Chiloda. During the investigation, the police seized ₹2.38 lakh in cash and copies of contracts with 166 investors. 

Preliminary inquiries suggest that the accused collected crores of rupees from these contracts, indicating that the total fraud could amount to several crores.

The officials from the Economic Offenses Wing have advised victims of this scam to contact the police.

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