Valsad, September 16, 2026 (Yes Punjab News)
Valsad Cyber Crime Police have arrested two more persons in connection with an alleged investment fraud in which a Gujarat resident was duped of Rs 1.46 crore through a fake trading platform and WhatsApp groups promising high returns from share-market investments.
The accused, identified as Bhargav Solanki and Mehul Kachhua, were arrested following an investigation into the case. Police said Rs 18.70 lakh of the allegedly defrauded money had been credited to Kachhua’s bank account.
According to police, the complainant, Khushru Dali Petigara, was allegedly approached through WhatsApp groups named “B125-Wealthy Vision VIP Circle” and “460-Wealthy Vision VIP Circle”. He was promised higher returns through bulk buying and selling of shares under institutional trading.
Investigators said the accused allegedly created a false identity for a company called “WealthyIN Broking Private Limited” and induced Petigara to transfer Rs 1,46,75,000 into various bank accounts. A trading application allegedly displayed profits on the investments, encouraging him to continue.
When Petigara attempted to withdraw the purported profits, he was allegedly asked to pay a further 15 per cent commission. Police said he was told the amount would be deducted from his account balance, following which he realised he had allegedly been defrauded and approached the cybercrime police.
The investigation initially resulted in the arrest of Narendra Mali, whose bank account had allegedly received part of the proceeds. During questioning, Mali allegedly told investigators that he had withdrawn the money and handed it over to Solanki, Tinkesh Padhiyar and Kachhua, who were associated with Malgarh in Banaskantha district’s Deesa area.
Police conducted searches in Gujarat and Rajasthan but initially failed to trace the three suspects. Investigators subsequently examined bank accounts, mobile-phone details, relatives’ call records, social-media activity and information from local sources.
Police said investigators later learnt that Solanki and Kachhua would return to Malgarh on September 12 for Bhadarva Beej celebrations. Acting on the information, the cybercrime team apprehended the two and initiated legal proceedings.
Police said Rs 53,97,797 had already been recovered and returned to the complainant after the complaint was registered. Investigators also used the 1930 cyber fraud helpline and details of the complainant’s bank accounts to initiate further recovery efforts.
The police advised people to be cautious about investment offers circulated through WhatsApp, Telegram, Facebook, Instagram and unknown links, particularly those promising “daily profit”, “guaranteed returns”, “double money” or “VIP Trading Group” memberships.
People were also advised not to download investment applications at the request of strangers or share OTPs, UPI PINs, passwords, banking credentials or trading-account information. Investors were urged to verify the SEBI registration and authorisation of brokers, companies and financial advisers before investing.
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