Rajkot, January 30 – A 33-year-old financial fraudster, Mohammad Sameer Mohammad Sarfaraz, who had been evading authorities for three months, has been arrested by Rajkot Crime Branch. The accused allegedly duped investors of ₹89 lakh through fraudulent investment schemes in Surat and Rajkot.
Fraudulent Investment Scheme
According to police sources, Sameer operated a finance firm named "Sameer Capital" with offices in Rajkot and Surat. Investors deposited ₹89 lakh into his Surat-based firm, expecting returns. However, he failed to return the money, prompting affected investors to file a complaint at Vesu Police Station in Surat.
Arrest and Investigation
After an extensive three-month-long search, police received intelligence that Sameer was hiding near Sheetal Park on the 150-Foot Ring Road in Rajkot. Acting swiftly, the Crime Branch apprehended him before he could escape to Haryana, his home state. Surat police have been informed, and further legal proceedings are underway.
Legal Action and Next Steps
Sameer will be handed over to Surat Police for further questioning.
Authorities are investigating the extent of his fraudulent activities and potential accomplices.
Investors are urged to exercise caution and verify financial firms before investing to avoid such scams.
This case serves as a critical reminder of the risks associated with unverified investment schemes, reinforcing the need for stricter financial regulations and vigilance.
