Surat Family Accused of Orchestrating Major Forex Trading Fraud
In a shocking case from Surat, three members of a family have been accused of cheating at least 14 people out of a staggering Rs 2.05 crore. The alleged scam revolved around promises of lucrative returns from forex trading, with the accused employing deceptive tactics to cultivate trust and credibility among their victims.
Building Trust Through Temple Visits and Displays of Wealth
According to police reports, the accused family members, including a woman, strategically visited a temple in Dabholi to project an image of affluence and reliability. They frequently flaunted their prosperity and distributed dry fruits such as cashews and almonds as prasad to temple visitors. This behavior was designed to draw attention and build a reputation of trustworthiness within the local community.
The Launch of Epic Innovation LLP and False Promises
The scheme escalated when the accused invited several individuals to the inauguration of their new firm, Epic Innovation LLP, located in Varachha. They claimed the company was engaged in forex trading and had four partners: Ashok Solanki, his son Jay, daughter Jyoti, and Rushi Patel. To entice investors, they allegedly promised monthly returns of 4% to 5%, convincing many to pour money into the venture.
Victim Testimony: Anil Balar's Experience
One of the complainants, Anil Balar, a 50-year-old online apparel business owner, detailed his involvement. Having met the Solanki family multiple times and believing them to be trustworthy, Balar was lured by the high-return offer. In April 2024, he transferred Rs 35 lakh to bank accounts provided by Ashok and Jay Solanki. Initially, the accused maintained credibility by paying small returns: Balar received Rs 56,666 in May and Rs 60,000 in June. When suspicions arose, he obtained a written acknowledgement from the accused confirming they owed him Rs 35 lakh.
Continued Payments and Sudden Disappearance
The accused continued to send minor payments, including Rs 60,000 in July and Rs 46,308 in August, with Ashok Solanki reportedly paying around Rs 2.74 lakh as returns until September 2024. However, the office was abruptly shut down soon after, and the accused allegedly fled the city, leaving investors in the lurch.
Multiple Victims and Failed Assurances
As news of the incident spread, it became clear that several other investors had fallen prey to the scheme. A meeting was held at the residence of one victim, Mukesh Patel, where the fourth partner, Rushi Patel, was called and reportedly assured that the money would be returned. Despite these promises, no payments materialized, deepening the financial losses for the victims.
This case highlights the dangers of investment scams and the importance of due diligence. Authorities are investigating the matter, urging the public to remain vigilant against such fraudulent schemes promising unrealistic returns.
