Father-son duo booked for defrauding people in Visnagar with Ponzi scheme

Mehsana: Visnagar taluka police have booked a father-son duo for defrauding several people of crores of rupees by promising to double their money through a Ponzi scheme.

According to the complaint filed by a farmer from Kada village in Visnagar taluka, Kiritsinh Chawda and his son Vishalsinh Chawda took Rs. 7.5 lakh from the complainant for an investment scheme that promised to double the money in 75 days. The accused provided a cheque to the complainant, but when he attempted to cash it, the cheque bounced. Later, when the complainant asked the accused for his money, they issued a death threat against him. Similarly, the accused duo defrauded several people for a total amount of Rs. 2.30 crores, as stated in the FIR.

The duo, which has reportedly defrauded over 20 people, has been booked under Sections 420, 506(2), and 102B of the Indian Penal Code. DeshGujarat