Police in Rajkot have launched a search for a mother-son duo accused of allegedly cheating a 29-year-old factory employee of ₹1.40 crore through a fake cryptocurrency and overseas investment scheme. The victim later died after allegedly consuming poison, prompting police to register a case that includes charges relating to cheating, criminal breach of trust and abetment of suicide.
According to investigators, the accused allegedly developed a close relationship with the victim after living as tenants nearby before introducing him to purported investment opportunities promising unusually high returns.
Fake Investment Scheme Allegedly Built on Trust
According to the FIR, the accused initially persuaded the victim to invest ₹1 lakh, which was reportedly returned along with a small profit to build confidence.
Police allege that the victim was later convinced to make substantially larger investments by:
- Mortgaging 163 grams of family gold
- Taking loans against his vehicle
- Borrowing from relatives and friends
- Obtaining finance from multiple lenders
- Selling his wife's jewellery
Investigators claim the victim ultimately transferred approximately ₹1.40 crore after being promised large profits from cryptocurrency investments and foreign stock market opportunities.
Communication Allegedly Stopped After Receiving Money
According to police, the accused allegedly informed the victim that additional money was required to unlock his investment returns.
Investigators allege that after receiving the funds, the accused stopped responding and vacated their rented accommodation.
Police are examining:
- Bank transaction records
- Mobile phone location data
- Digital communication
- Electronic payment trails
to trace the movement of the allegedly siphoned funds.
Suicide Investigation Underway
According to investigators, the victim came under severe financial pressure after realising the investment was allegedly fraudulent.
Police stated that he allegedly consumed poison on June 9, 2026, and later died during treatment on June 14, 2026.
Authorities have registered offences under the Bharatiya Nyaya Sanhita relating to:
- Cheating
- Criminal breach of trust
- Abetment of suicide
The allegations remain under investigation.
Police Continue Search Operations
Rajkot Police have launched coordinated searches across multiple locations to trace the accused.
Investigators are also attempting to identify:
- Any additional victims
- Possible associates
- The complete financial trail
- Assets allegedly acquired using the money
Further legal action will depend on the evidence collected during the investigation.
Investors Should Verify Before Investing
Financial experts caution that fraudsters increasingly exploit personal relationships and promises of extraordinary investment returns to gain victims' confidence.
Professional auditing services in india assist businesses and investors by reviewing financial records, verifying investment structures, conducting due diligence and identifying irregular financial activities before substantial investments are made.
Conclusion
The Rajkot case highlights how investment frauds increasingly rely on trust and personal relationships rather than sophisticated technology.
Authorities advise investors to independently verify investment opportunities, avoid guaranteed-return schemes and confirm regulatory credentials before transferring money.
Shunyatax Global Insight
Shunyatax Global says that investment decisions should never be based solely on personal trust or promises of exceptional returns. Independent due diligence, regulatory verification and proper financial review are essential safeguards against fraud. Professional auditing services in india play a vital role in strengthening financial transparency and helping detect suspicious investment arrangements before significant losses occur.