Financial Consultant Duped Out of ₹71 Lakh with False Investment Promises
A financial consultant from Rajkot has lodged a complaint against two individuals after alleging they cheated him out of ₹71.89 lakh.
The complainant, Paresh Menpara, claims he was assured of 4% monthly returns and a bank guarantee for his investment in Wetell Commodities Ltd. through Amardeep Singh Thakur of Hyderabad and Rajiv Sharma of Junagadh.
Menpara met Sharma while auditing a company in Bhesan taluka in 2011, and after being introduced to Pranav Shah and Chintan Shah at Junagadh GIDC, he was promised monthly returns of 4% along with 60% of additional profits, while the company would bear losses.
The funds were allegedly used for gold and silver futures trading. Menpara later received two cheques issued in Thakur's name but both were dishonoured due to insufficient funds when presented on March 6, 2012.