Gurgaon Businessman Files FIR Over Rs 2.7 Crore Online Trading Scam
A prominent businessman based in Gurgaon has lodged a formal complaint against his close friend, accusing him of orchestrating a massive financial fraud amounting to over Rs 2.7 crore. The alleged scam involved deceptive online trading investments that promised lucrative returns but ultimately left multiple investors in financial distress.
FIR Registered and Case Transferred to Economic Offences Wing
On Wednesday, an FIR was officially registered under Section 420 (cheating) of the Indian Penal Code at the DLF Sector 29 police station in Gurgaon. The complainant, a resident of Sushant Lok 1, detailed in his statement that approximately 11 to 12 other individuals also invested substantial sums through the accused, Davinder Verma. Following the initial investigation, police authorities have transferred the case to the economic offences wing for further scrutiny due to its complex financial nature.
The businessman reported receiving about Rs 20 lakh as returns initially, which he believed were part of the promised profits. However, he alleged that Verma subsequently switched off his mobile phone and vacated his residence after committing to repay the full amount by December 15, 2025. This abrupt disappearance has heightened suspicions of premeditated fraud.
Long-Standing Friendship and Business Background
According to the complaint, the complainant first met Davinder Verma around 2011-12 through a mutual friend, and their friendship developed over the years. Verma was previously associated with an ayurvedic products business operating under the name "Udaan," which added a layer of credibility to his persona. In 2022, Verma informed the complainant that he had transitioned to online trading after completing professional courses, claiming to earn substantial profits from this venture.
He asserted that he was working with a firm named Finowiz Limited and assured investors of returns ranging from 20% to 30% on their investments. Trusting these assurances, the complainant transferred Rs 5 lakh from his brother's bank account and initially received monthly returns, which seemed to validate the scheme's legitimacy.
Shift to Entice Capital and Escalating Investments
Later, Verma claimed that Finowiz Limited had shut down after allegedly cheating investors, but he promised to return the invested amounts along with profits. He then introduced another firm, Entice Capital, enticing investors with promises of foreign tours and attractive gains for an investment of $15,000. Believing these new assurances, the complainant and his acquaintances collectively invested around Rs 1.5 crore in various schemes linked to Entice Capital.
For nearly a year, returns were credited regularly for six to seven months before payments abruptly ceased. When questioned about the delays, Verma cited disputes with his business partner and requested more time to resolve the issues. Relying on his continued assurances, the complainant transferred additional significant amounts: Rs 50 lakh on October 4, 2024, Rs 50 lakh on October 8, 2024, Rs 53.5 lakh on November 12, 2024, and later Rs 70 lakh into Verma's personal account, along with Rs 50 lakh into his wife's account in June 2025.
Broader Implications and Ongoing Investigation
This case highlights the risks associated with online trading schemes and the importance of due diligence in financial investments. The economic offences wing is now actively investigating the matter to uncover the full extent of the fraud and identify any other potential victims. Authorities urge the public to exercise caution when approached with high-return investment opportunities and to verify the credentials of individuals and firms involved.
The complainant's experience serves as a stark reminder of how trust and long-standing relationships can be exploited for financial gain. As the investigation progresses, further details are expected to emerge regarding the operational methods used by Verma and the total financial impact on all affected parties.
