According to an FIR registered with CID (crime), Ahmedabad zone, Amrish Panchasara, a resident of Surajpura village in Palanpur taluka of Banaskantha, said he and his friend Rohit Patel were looking for investment opportunities when they came across with the company run by one Wasim Khan and headquartered in Noida, on social media.
Panchasara said Khan contacted him in 2018 and promised to pay him 10% to 15% monthly interest, six months after he invested. Khan told Panchasara he ran a company manufacturing T-shirt for the armed forces and has another company registered with online retail platforms. Panchasara said he and Rohit Patel first invested Rs 2.50 lakh, and received the returns as well.
Between March 2019 and June 2019, Panchasara and two others invested Rs 30 lakh in Khan’s company. He said in the FIR that Khan promised lucrative returns if they were to set up a dealership for Khan’s company in Palanpur and other places in Gujarat. He said that Khan offered him shares in his company if they convinced others to invest in the company. Panchasara said Khan told him that his company had a turnover of Rs 500 crore.
Panchasara said Khan told he would give him shares worth Rs 100 crore if Panchasara and his…
