A businessman accused of orchestrating a multi-crore investment scam has gone missing, leaving at least 12 investors defrauded of a total of Rs 1.33 crore. The Rajkot Division Police registered a First Information Report (FIR) on Monday after the accused's own family publicly disowned him through a newspaper notice.
The Accused and the Modus Operandi
The 58-year-old complainant, Mustak Sabuwala, informed the police that the accused, Hitesh Gohil, projected himself as a cloth merchant, a credit card agent for various banks, and a share market investor to lure victims. He allegedly promised substantial commission payouts on short-term investments. Sabuwala and Gohil had known each other for approximately 14 years, as their sons studied in the same school. Exploiting this long-standing association, Gohil persuaded Sabuwala to invest by offering commissions of 1% to 1.5% every 15 days. Between November 2021 and 2023, Sabuwala and his sister-in-law invested over Rs 37 lakh.
How the Fraud Unfolded
According to the FIR, Gohil initially paid some sums in cash as 'commissions' to build trust. He also issued 'security cheques' from various banks, which later turned out to be worthless. The fraud came to light on May 21, 2026, when Gohil's father published a public notice in local newspapers declaring that the family had severed all ties with him and would not be responsible for any of his financial dealings. Alarmed by the notice, Sabuwala tried to contact Gohil but found his mobile phone switched off. When investors went to Gohil's shop and home, they discovered both were locked and that he had fled the city with his family.
Other Victims and Total Amount
Police said Sabuwala was not the only victim. At least 11 other investors, mainly from Jamnagar, were allegedly duped. The total amount involved stands at Rs 1.33 crore. Other victims include Ravi Vaghela, who invested Rs 23 lakh; Juma Katariya, who put in Rs 12.50 lakh; and Gajendrasinh Jhala, who invested Rs 12 lakh. The accused allegedly collected money through cheques, UPI transfers, credit card transactions, and cash.
Legal Action and Investigation
The Division Police registered the FIR under BNS Section 316(5) and began an investigation to trace Gohil and recover the funds. Authorities are now searching for the absconding businessman.
