Family Dupes 14 people of ₹2.05 Crore in Surat Forex Trading Scam

Surat: Three members of a family, including a woman, have allegedly cheated at least 14 people of ₹2.05 crore by promising high returns through forex trading.

Police said the accused built trust among locals in the Dabholi area by regularly visiting a temple and projecting a wealthy lifestyle. They reportedly distributed dry fruits like cashews and almonds as prasad to gain credibility.

The trio later invited people to the launch of their firm, Epic Innovation LLP, in Varachha, claiming it was engaged in forex trading. The company allegedly had four partners—Ashok Solanki, his son Jay, daughter Jyoti, and Rushi Patel—and they promised investors monthly returns of 4–5%.

One complainant, Anil Balar (50), an online apparel trader, said he invested ₹35 lakh in April 2024 after being convinced by the family’s claims. To maintain trust, the accused initially paid small returns, including ₹56,666 and ₹60,000 in May and June, followed by further partial payments in subsequent months.

However, after September 2024, the payments stopped, the office was shut, and the accused allegedly fled the city. As the fraud came to light, more victims surfaced, revealing a wider scam.

A meeting of investors was later held at the residence of one Mukesh Patel, where the fourth partner, Rushi Patel, reportedly assured them that the money would be repaid. However, no refunds were made.

The Economic Offences Wing of the Surat Police have arrested the accused Ashok, Jay, and Jyoti, while Rushi Patel is still absconding.