Ahmedabad, July 31, 2026 (Yes Punjab News)
The Ahmedabad Rural Local Crime Branch has arrested two jewellery business operators from Gujarat’s Dholka area for allegedly duping around 40 investors of more than ₹10.67 crore by promising lucrative returns on investments linked to the silver trade.
The accused, identified as Ghanshyam Soni and Yash Soni, residents of Rukshmani Park Society near Gayatri Mandir in Kalikund, Dholka taluka, allegedly convinced local residents to invest money by claiming that investments in gold and silver jewellery businesses would generate substantial profits.
According to the police investigation, the duo collected deposits amounting to approximately ₹10.67 crore from about 40 investors but failed to return the money as promised.
Investigators alleged that after collecting the funds, the accused shut down Hari Jewellers, closed their business premises and residence, and absconded.
Based on a complaint, Dholka Town Police registered a case under Sections 316(5) and 61(2) of the Bharatiya Nyaya Sanhita (BNS), 2023, along with Section 3 of the Gujarat Protection of Interest of Depositors (In Financial Establishments) Act, 2003.
Following their arrest, both accused were produced before the Special GPID Court, which granted the police five days’ custody to facilitate further investigation.
Police said the probe will focus on tracing and recovering the allegedly defrauded money to enable restitution for the affected investors. Investigators are also examining whether the accused acquired movable or immovable assets using the alleged proceeds of the fraud and whether other individuals were involved in the operation.
Officials said further legal action will be taken based on the findings of the ongoing investigation.
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