Fraudster Impersonating Former Gujarat MP's Son Arrested in Share Market Scam
Man posing as ex-Gujarat MP's son booked for cheating investors through share market scam
Hindustan Times
Image: Hindustan Times
A man identified as Vicky Vajubhai Barejia, posing as the son of a former Gujarat Member of Parliament, has been arrested by Mumbai Police for allegedly defrauding investors of over ₹41 lakh (approximately $49,500 USD) in a share market scam. He promised high returns on investments but failed to deliver, threatening victims when they sought their money back.
- 01Vicky Vajubhai Barejia impersonated a former MP's son to gain trust.
- 02He defrauded investors, including a businessman, of ₹41.39 lakh (approximately $49,500 USD).
- 03Victims were promised high returns on share investments but received little back.
- 04The accused threatened victims when they demanded their money.
- 05Mumbai Police have registered a case of cheating and criminal breach of trust.
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Mumbai Police have filed a case against Vicky Vajubhai Barejia, who allegedly posed as the son of a former Gujarat MP to defraud investors in a share market scam. The complainant, Swaranjitsingh, met Barejia in March 2022, where he was convinced to invest based on false claims of connections with senior officials and promises of doubling his money within six months. A total of ₹41.39 lakh (approximately $49,500 USD) was transferred to Barejia, who later returned only ₹9.75 lakh and ceased further payments. Investigations revealed that he had similarly deceived multiple individuals, with one victim losing ₹5 lakh (approximately $6,000 USD). When victims sought their money back, Barejia allegedly threatened them. The police have initiated legal action for cheating and criminal breach of trust, with the complainant reporting a total loss of ₹18.69 lakh (approximately $22,500 USD).
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This incident highlights the risks of investment scams, particularly in the share market, which can lead to significant financial losses for individuals.
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