Ahmedabad: A businessman from Thaltej filed a complaint with the police, saying he had been swindled of Rs 2.5 crore which he had invested for guaranteed profits.
Anand Chaudhary, 43, said in his complaint to Sola police on Saturday that he had come into contact with Ratilal Jain, a resident of Shahibaug. Chaudhary said Jain claims to own an iron and steel business. Jain told Chaudhary he knew top government officials and made huge profits. Jain said Chaudhary could also earn a 12% return by investing. Jain said 52.50% of the profits will go to him, while the rest will go to Chaudhary.
In his FIR, Chaudhary said that on June 14, 2012, they signed a contract and that between May and August 2012, he gave Rs 2.5 crore to Jain as an investment. Jain even gave Chaudhary a promissory note.
Chaudhary told police that whenever he asks for his share of the profits, Jain dodges the issue. Chaudhary said that when he asked for the details of the investment, Jain said his business was suffering. In fact, Chaudhary was asked to obtain raw materials which could be processed to make money.
Chaudhary said that when he asked for his money, Jain gave him checks for Rs 2.5 crore. But they bounced back.
Chaudhary told police that Jain had been cheating on him since 2012 and had not returned his money, given him a profit or the promised 12% return. Sola Police have recorded a case of cheating and breach of trust against Jain.