Rajkot: Obtaining character certificates from the police exposed a fraudulent scheme by two individuals, who were arrested before they could defraud potential investors with a fabricated story about a Rs 48,000 crore fund allegedly blocked by the Reserve Bank of India (RBI).
The accused, Ruturajsinh Sodha (21) and Madhav Vyas (24), secured the certificates from the Salaya police station in Devbhumi Dwarka district. However, their request raised suspicions, prompting an investigation by the Special Operations Group (SOG).
The investigation revealed that the duo planned to use the certificates alongside fake RBI documents to convince investors of their claim that Rs 48,000 crore was deposited in their account. They promised hefty commissions from the released funds to lure investors.
According to SOG officials, Sodha told investors that he studied engineering in Singapore and invented a chemical element (iridium), which was sold to a Bengaluru-based company. They claimed this innovation earned them Rs 48,000 crore, which was purportedly deposited in RBI but required a tax payment of Rs 2,400 crore for release.
The duo was actively organising meetings with potential investors when the police caught them in Rajkot. Police recovered several fake documents, including a declaration letter from RBI, a credit advice from RBI, a SWIFT transmission certificate, and letters from a Bengaluru-based company.
Sodha and Vyas, both originally from Khambhalia and currently residing in Rajkot, intended to use the character certificates to gain credibility and win the trust of investors.
A police officer stated, "They used the character certificates obtained from the police to establish their credibility."
The FIR was registered by SOG head constable Hardeep Jadeja, invoking relevant sections of the BNS.