Surat: Firm dupes 17 of Rs 4 crore in fraud scheme

RAJKOT: Three employees of a Surat-based finance company were booked for defrauding 17 people in Rajkot of Rs 4 crores two years ago. The complainants approached Rajkot taluka police station on Thursday stating that they had invested in the firm lured by promises of good return.
Complainant Jenti Patel told the police that he had gone to Dhananjay Finance Company’s office located at Nana Mauva six years ago and was lured by the temptation of getting 18 percent annual return. Patel said that he sold off his agricultural land in Paddadhri taluka and invested Rs 25 lakh with the firm and started getting good returns. Thereafter, he also convinced 17 of his relatives including his brother Vipul, brothers-in-law Kamlesh Ramoliya and Dinesh Fefar along with others to invest around Rs 4 crore in the scheme.
Every investor got good returns till 2019, but after that the company closed down overnight after it lost all its money.
The investors, meanwhile, came to know that three accused of the company, including chairman Asmita Pambhar and directors Ghanshyam Pambhar, Vallabh Pambhar are residents of Surat and approached Rajkot police to register a an FIR against them.
According to the police, after analyzing all the documents, the three accused have been booked under IPC sections 406, 409, 420 and 120 (b), while cops have also started searching for other fraud victims.