Gym investment turns sour, engineer alleges Rs 30L fraud by two brothers

Ahmedabad: A 30-year-old engineer from Vastral has filed a police complaint alleging that he was cheated of Rs 30 lakh by two brothers after being induced to invest in a gym business with promise of partnership and assured returns.The complaint was registered at Paldi police station under sections of breach of trust and cheating of the Indian Penal Code (IPC). According to the complainant, the complainant was a regular at a gym in Vastral where he came into contact with two brothers associated with the facility.In his statement to the police, the engineer alleged that in Nov 2020, the duo approached him and his father with a proposal to invest in a new gym in the Paldi area, claiming the business would generate substantial profits. They convinced him to invest Rs 45 lakh, promising monthly returns of Rs 2-2.5 lakh and offering him an administrative role in the venture.As his family did not have sufficient funds, the complainant took a mortgage loan of Rs 41.6 lakh in March 2021. Between March and July 2021, he transferred Rs 41.8 lakh to the brothers through multiple transactions and paid an additional Rs 3.4 lakh in cash, taking the total investment to about Rs 45 lakh.The engineer further alleged that despite repeated requests, the accused delayed executing a written partnership agreement, asking him to "keep faith". A partnership deed was eventually signed on Nov 27, 2021, reflecting his 30% stake in the business.However, he claimed that he was never provided with proper financial accounts and did not receive any share of the profits. The accused allegedly maintained that the gym was incurring losses. In Aug 2023, the accused reportedly sold the gym for Rs 72 lakh. While complainant's 30% share amounted to Rs 18.6 lakh, he received only Rs 15 lakh.The complainant has further alleged that forged invoices and manipulated bills were used to misrepresent the business's financial status, resulting in a loss of nearly Rs 30 lakh to him.Police said an investigation has been initiated and further action will be taken based on the findings.