In Ahmedabad, a shocking case of financial fraud has emerged, where an individual was cheated out of ₹78.96 lakh under the pretense of lucrative returns in the transport business. The accused, Vinod Valand, allegedly promised Chandreshbhai Gajjar, a general manager at a well-known company, significant monthly earnings and the repayment of all loans. This fraud took place over several years, with Chandreshbhai initially lending money for what was claimed to be a transport business venture.
Chandreshbhai, who lives in Thaltej, was approached by his former neighbour, Vinod, who claimed to run a successful transport business. Vinod convinced Chandreshbhai to invest money, assuring him of a monthly profit of ₹1 lakh and the settlement of his loans. Trusting Vinod, Chandreshbhai ended up loaning him a total of ₹1.01 crore, believing that he would receive substantial returns.
The situation escalated when Chandreshbhai’s daughter planned to travel abroad. Vinod persuaded him to take out a loan, showing a bank account balance of ₹84 lakh to reinforce his credibility. This led to more money being transferred to Vinod, who continued to fabricate stories about purchasing properties and expanding the business.
As time went on, it became clear that Vinod was not making any payments. He stopped responding to phone calls and eventually vacated his residence, leaving behind a trail of financial chaos. Chandreshbhai discovered that Vinod had sold his property in Gota, Ahmedabad, two months prior to his disappearance.
The Ahmedabad Economic Crimes Branch has now registered a case against Vinod Valand, who is currently at large. They are investigating the matter further to recover the lost funds and bring the accused to justice.
This incident highlights the risks of trusting individuals with financial matters, especially when promises sound too good to be true. Victims of fraud often face significant emotional and financial distress, and it is crucial to approach such opportunities with caution. The police advise individuals to verify claims and seek legal advice when considering financial investments.
As investigations continue, the local community remains on alert, hoping for justice in this unfortunate affair. The Economic Crimes Branch encourages anyone with information about Vinod Valand’s whereabouts to come forward and assist in the investigation.
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