Anand, Feb 7 (NationPress) An NRI individual has reportedly been defrauded of Rs 1.30 crore through deceitful promises in Gujarat. The Vidyanagar Police have filed a complaint against a suspect named Milan alias Manu Patel, who is associated with Haridham Sokhada and allegedly exploited the victim's faith under the guise of religious service and investment prospects.

As per police reports, Kalpesh Patel, an NRI hailing from Lunawada, frequently visited Bakrol Atmiyadham where he encountered Milan Patel.

The suspect supposedly earned Kalpesh Patel's trust by portraying himself as a devoted and single spiritual aspirant residing with Hariprasad Swami as a ‘tolerant servant.’

Furthermore, Milan Patel claimed to be the proprietor of Prabodham International, a real estate and visa consultancy based in Vidyanagar.

Capitalizing on this perceived credibility, he allegedly persuaded Kalpesh Patel to invest in lucrative schemes promising swift returns.

Initially, Milan Patel took Rs 23 lakh in cash from the victim under the guise of investment opportunities. Over time, Kalpesh Patel reportedly invested a grand total of Rs 1.30 crore with high expectations of substantial returns.

However, despite numerous assurances, he received neither profits nor the return of his principal amount.

Upon realizing he had been misled, Kalpesh Patel sought to reclaim his funds from Milan Patel, but the accused allegedly evaded all attempts at repayment.

With no other options left, the aggrieved NRI lodged a formal complaint with the Vidyanagar Police Station.

Officials have since registered a case against Milan Patel and initiated an investigation into the fraudulent activities. The Vidyanagar Police are currently scrutinizing transaction details and collecting evidence against the suspect.

Investigators are also examining whether other victims have fallen prey to similar scams orchestrated by Milan Patel.

In fiscal year 2024, Gujarat recorded 1,349 financial fraud cases, a significant rise from just 51 cases in FY 2020. The financial losses associated with these frauds have surged dramatically from Rs 2.87 crore in FY 2020 to Rs 49.92 crore in FY 2024, marking a staggering 1,639 percent increase over five years. A large segment of these frauds is cyber-related.

In 2023, Gujarat documented 121,701 cyber fraud complaints, with losses totaling Rs 650.53 crore. Out of these, Rs 156.9 crore were recovered or prevented.

A significant number of these cyber fraud cases are linked to Unified Payments Interface (UPI) transactions. In Gujarat, around 70 percent of online financial frauds are UPI-related.

The escalation of cybercrime has prompted significant law enforcement action. In one of the state’s largest investment frauds, authorities apprehended 45 individuals involved in a complex scheme that swindled hundreds of Gujaratis, with potential losses exceeding Rs 100 crore.

Investigations indicated that bank employees and mobile service providers may have collaborated in providing data to the scammers.