Several complaints have been filed against the agent and his firm
Ahmedabad: A transporter has accused investment agent Mihir Parikh and three partners of his firm of cheating him of Rs 41 lakh by allegedly making him invest borrowed money on a promise of 24% annual returns on stocks. In his complaint with Satellite police on Thursday, Rupesh Singh Tomar (39) alleged that in 2024, Parikh persuaded him to raise a loan against his mutual fund portfolio and invest the proceeds with MP Fincorp Services, a partnership firm operated by Parikh and others.
In Dec 2025, Parikh allegedly sent Tomar a PDF showing purported share transactions in his and his father’s names. THE INVESTMENT SCAM TRAIL (2026) April 8 | Satellite: Rs 1.1 crore complaint by investors Vivek and Shruti Agarwal alleging that money taken for investment in the stock market was not returned and false investment statements were provided You Can Also Check: Gold Rate in Ahmedabad | Silver Rate in Ahmedabad | Bank Holidays in Ahmedabad | Public Holidays in Ahmedabad | Ahmedabad AQI | Weather in Ahmedabad | Petrol Price in Ahmedabad | Diesel Price in Ahmedabad | CNG Price in Ahmedabad | LPG Price in Ahmedabad
Tomar was told he could track his investments on the firm’s ‘My Wealth’ app, according to the complaint. Tomar found that no shares had actually been bought or sold in their names. At the firm’s office, Parikh’s partner Hemrajsinh Rana too assured that the money would be returned but allegedly no payment was made.