A Surat-based petrochemical businessman was allegedly defrauded of ₹1.24 crore by a man who posed as a government cyber forensic specialist, promising high returns through forex trading, cryptocurrency, and overseas funds — before using the proceeds to buy property and luxury cars in Mumbai, according to police. The Surat City Cyber Crime Cell arrested the main accused, Priyank Vyas, 34, from Mira Road, Mumbai, following a complaint registered on 30 October 2026.

How the Fraud Was Executed

The scheme began in November 2025, when the complainant approached a chartered accountant in Surat for assistance with banking and loan-related work. The accountant — identified as Rohan Kelawala, who is currently absconding — allegedly told the businessman that he invested clients' money in forex trading and introduced him to Vyas, describing him as a cyber forensic expert and cryptocurrency specialist. The two first met at a hotel in Mumbai.

To establish credibility, Vyas allegedly produced a fake identity card bearing the national emblem, identifying him as 'Dr Priyank Samirbhai Vyas – Forensic Cyber Crime Specialist, Cyber Forensic Department, Mumbai'. He also claimed his car carried a government board and operated under a UPI ID named 'fslcyberforensic' and an email address styled 'fslmumbai'.

Vyas initially demanded ₹18 lakh, claiming it was needed to renew the IP address of a terminal he had developed. He promised to return ₹30 lakh within 60 days and offered the complainant a 20 per cent partnership in his business. On 21 January 2026, the complainant sent ₹18 lakh in cash to Kelawala's office.

Mounting Demands and Fabricated Transactions

Over the following months, Vyas communicated with the complainant through a 'Work' group on the BOTIM application, sharing screenshots of USDT transactions and photographs of VISA cards issued by foreign banks to simulate genuine activity. Between February and October 2026, he allegedly demanded further payments on a series of pretexts — including a ₹15 crore server fund, a ₹153 crore fund from Argentina, the withdrawal of 5.3 million US dollars from a card, and the recovery of Bitcoin from a wallet linked to a person in Nashik.

Payments were collected as gas fees, transaction charges, withdrawal charges, processing fees, and personal loans through cash, bank transfers, Google Pay, angadia channels, and USDT. In total, the accused and his associates collected ₹1,29,25,100 from the complainant and a friend in 21 instalments over 11 months. Of this, ₹4.70 lakh was returned, leaving ₹1,24,53,900 unpaid.

To sustain the deception, Vyas repeatedly displayed large balances on a laptop and sent screenshots showing 'Transaction Success', only to later claim the transactions had failed — citing IP-related banking errors, Ethereum server outages, and 83,768 ETH allegedly blocked due to transaction size. He also claimed a wallet audit had flagged 17 errors — 15 yellow and two red alerts — and demanded additional fees to resolve them.

Where the Money Went

According to police, none of the collected funds were used for any server, fund, or cryptocurrency transaction. Instead, Vyas allegedly purchased a property in Mumbai worth approximately ₹1.5 crore, bought a BMW luxury car, and paid roughly ₹80 lakh as a token amount for another flat. Investigators are gathering documentary evidence to establish that these assets were acquired from fraud proceeds, with a view to seizing or freezing them.

Police have seized two mobile phones, two laptops, two hard disks, two pen drives, three cryptocurrency wallet cards, the fake Cyber Forensic Department identity card, a card of the Crime Grievance and Intelligence Council, two cheque books, two bank passbooks, flat-related documents, a BMW, and a Honda City. The total value of seized items has been assessed at ₹9.65 lakh.

Wider Victim Circle and Accused Background

The investigation has revealed at least two additional alleged victims in Surat. One of the complainant's friends reportedly paid ₹74.90 lakh in instalments via bank transfers and cash, while another Surat resident allegedly lost ₹7.5 lakh. Police suspect the total amount collected from victims in the city may be close to ₹2 crore and are investigating whether more individuals were cheated.

Notably, investigators found that both Vyas and Kelawala had themselves been defrauded while trading on a platform called GlobalSwiftPay, which displayed large US dollar balances that could not be withdrawn. Police suspect the two subsequently replicated that very model — displaying fictitious balances and demanding fees — to defraud others.

The case was registered at the Surat City Cyber Crime Police Station on 30 October 2026 under provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, including Sections 318(4), 204, 205, 336(2), 338, 336(3), 340(2), 61(2), and 3(5), as well as Section 66(D) of the Information Technology Act. A team led by Police Inspector N R Patel conducted the investigation.

Police Advisory

Police have urged the public to verify investment platforms and brokers before transferring money, avoid offers guaranteeing unusually high returns, and refrain from paying additional amounts in the name of withdrawal or tax-processing fees. Efforts to arrest the absconding accused Rohan Kelawala are ongoing.