Anand, Feb 7 An NRI youth has allegedly been cheated of Rs 1.30 crore under false promises in Gujarat. The Vidyanagar Police have registered a complaint against a man identified as Milan alias Manu Patel, a follower of Haridham Sokhada, who allegedly exploited the victim’s trust in the name of religious service and investment opportunities.
According to police sources, Kalpesh Patel, an NRI originally from Lunawada, was frequently visiting Bakrol Atmiyadham when he met Milan Patel.
The accused reportedly gained Kalpesh Patel’s confidence by claiming to be a dedicated and unmarried spiritual seeker living with Hariprasad Swami as a ‘tolerant servant.’
Further, Milan Patel introduced himself as the owner of Prabodham International, a real estate and visa consultancy operating in Vidyanagar.
Leveraging this credibility, he allegedly convinced Kalpesh Patel to invest in lucrative schemes that promised to double the returns within a short period.
Initially, Milan Patel took Rs 23 lakh in cash from the victim under the pretense of investment opportunities. Over time, Kalpesh Patel reportedly invested a total of Rs 1.30 crore with expectations of significant returns.
However, despite repeated assurances, he neither received any profits nor got his principal amount back.
Realizing he had been deceived, Kalpesh Patel repeatedly approached Milan Patel to reclaim his money, but the accused allegedly evaded repayment.
Left with no alternative, the aggrieved NRI filed a formal complaint with the Vidyanagar Police Station.
Authorities have since registered a case against Milan Patel and launched an investigation into the fraud. The Vidyanagar Police are currently examining the details of the transactions and gathering evidence against the accused.
Investigators are also probing if other individuals have fallen victim to similar fraudulent schemes operated by Milan Patel.
In the fiscal year 2024, Gujarat reported 1,349 financial fraud cases, a substantial increase from just 51 cases in FY 2020. The monetary losses associated with these frauds have also risen dramatically, from Rs 2.87 crore in FY 2020 to Rs 49.92 crore in FY 2024, marking a 1,639 per cent increase over five years. A significant portion of these frauds are cyber-related.
In 2023, Gujarat reported 121,701 cyber fraud complaints, with losses amounting to Rs 650.53 crore. Of these, Rs 156.9 crore were successfully recovered or prevented.
A considerable number of these cyber frauds are linked to Unified Payments Interface (UPI) transactions. In Gujarat, approximately 70 per cent of online financial fraud cases are UPI-related.
The rise in cybercrime has led to significant law enforcement actions. In one of the state's largest investment scams, authorities arrested 45 individuals involved in an elaborate scheme that defrauded hundreds of Gujaratis, with losses potentially exceeding Rs 100 crore.
Investigations revealed that bank employees and mobile service providers may have been complicit in supplying data to scammers.
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