A 59-year-old farmer from Vastral, Ahmedabad, has been allegedly swindled out of a staggering sum of Rs 2.3 crore after falling prey to a fraudulent 'half-price' investment scheme. The elaborate con, which promised brand-new cars, gold, smartphones, and laptops at unbelievable discounts, has also ensnared his family and over a dozen other victims.
The Neighbour's Lure and Initial Investment
According to a First Information Report (FIR) lodged with the Ramol police on Thursday, the trap was set in December 2024. A neighbour introduced the farmer to the scheme, proudly displaying a new SUV and motorcycle which he claimed were bought at 50% of the market price from an associate. Seduced by the prospect of such massive discounts, the complainant's family made their first investment of Rs 5.2 lakh for an SUV.
Escalating Demands and Deepening Fraud
The fraudsters then began a systematic campaign to extract more money. They employed delaying tactics, citing "legal hurdles" as a reason to demand additional funds. By April 2025, the deception had intensified significantly. The farmer's elder son had already channelled approximately Rs 72 lakh into various schemes for luxury cars and gold trading. Around the same time, his younger son, a civil engineer, invested another Rs 9 lakh.
The scam took an audaciously personal turn in May 2025. The wife of the accused reportedly visited the farmer's home and took Rs 19 lakh in cash, claiming she needed it urgently for her daughter's school fees. The promise to return this money was never honoured.
The Final Squeeze and Wider Network
In June 2025, the accused made a final demand for Rs 6 lakh as a "penalty clearance" fee to supposedly release the long-promised vehicles. Trusting the fraudsters until the very end, the farmer had also recruited 10 relatives and acquaintances into the scheme. This wider network collectively invested a further Rs 1.3 crore.
By July 2025, the total fraud had ballooned to Rs 2.3 crore. Individual losses among the victims ranged from Rs 1 lakh to a massive Rs 47.5 lakh. The police have registered the case under the Bharatiya Nyaya Sanhita (BNS), invoking sections related to criminal breach of trust, cheating, and abetment.
This incident serves as a stark warning against get-rich-quick schemes and investments that promise returns which seem too good to be true. Authorities are investigating the matter to bring the perpetrators to justice.
