Surat: The Economic Offences Cell (EOC) of Surat city police has arrested a husband and wife for duping multiple individuals of approximately ₹98 lakh on the promise of high returns.

According to the police, the accused, Hardik Shah and his wife Puja Shah, operated a firm named Shah’s Investment that floated attractive schemes promising 4% to 12% returns within 42 to 100 days to lure investors. Falsely claiming that the firm was registered with SEBI, the couple gained investors’ trust and initially provided regular returns before abruptly stopping payments later.

One of the victims, Milan Bharatbhai Bhatiya, approached the Kapodara police and filed a complaint against the couple. It is alleged that Bhatiya had invested ₹30 lakh, while other victims together invested ₹68.5 lakh — totalling ₹98.5 lakh — which the couple neither repaid nor provided returns on. When the complainant demanded his money back, Hardik Shah allegedly abused and threatened to kill him.

The Economic Offences Cell took up the case and arrested both Hardik and Puja Shah, who were lodged in Lajpore jail in connection with an earlier case of fraud. Police secured custody of the couple based on a court order that granted two days’ remand till November 1, 2025, for further investigation.

Further investigation is underway, and authorities believe that more victims of the fraud may come forward. DeshGujarat