Ahmedabad: A construction businessman and his family members lost Rs 1.1 crore after a man who claimed to be a property dealer allegedly lured them into investing in property deals by promising attractive returns.
In Jan 2025, the dealer allegedly told the family that he needed substantial capital to expand his business. The family paid Rs 60 lakh in cash, while another Rs 55 lakh was transferred through cheques and RTGS transactions. He allegedly promised to return the investment along with good profit. Despite repeated assurances that the principal amount would be returned along with profits, no money was returned to them. The dealer kept delaying repayment before executing an affidavit acknowledging that he had received the money for property transactions and investment in land deals, the complaint states. 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
Trusting his assurances, the businessman, his father and their friend allegedly invested money between Jan and Dec last year. The dealer was introduced to the businessman and his family through a common friend, according to the complaint registered with Shahpur police on Wednesday.