A Thaltej based businessman Anand Chaudhary has filed a police complaint stating that he has been cheated of Rs 2.5 crore a sum which he invested for guaranteed profits.
Chaudhary (43) registered his complaint at Sola police on Saturday, in his complaint he has stated that he had come in contact with Ratilal Jain, a resident of Shahibaug. Chaudhary further added said that Jain claimed to own an iron and steel business and he told Chaudhary that he knew senior government officials and that his business was making huge profits. Jain also suggested that Chaudhary too could earn 12% returns by investing with him he further added that 52.50% of the profits would be his, while the remaining would go to Chaudhary.
In his FIR, Chaudhary has also narrated that on June 14, 2012, they signed a contract and between May and August of 2012 where he gave Rs 2.5 crore to Jain as an investment. He had received a promissory note from Jain regarding this deal.
Later this, whenever he asked for his share of the profits, Jain would dodge the issue. He further added that when he pressed upon the details of the investment, Jain would claim that his business was suffering. Chaudhary also said that he was asked to fetch raw material that could be processed to make some money and when he demanded his money back, Jain gave him cheques of Rs 2.5 crore, but the cheques bounced.
Apparently, Jain has been cheating him since 2012 and has neither returned his money nor given him profits or the 12% returns as promised, added Chaudhary. Sola police have registered a case of cheating and breach of trust against Ratilal Jain.