Insurance agent alleges 32L investment fraud

Rajkot: A 42-year-old insurance agent has lodged a complaint with Gondal City B Division police station, alleging financial fraud and criminal breach of trust against four persons associated with investment firms in Surat and Ahmedabad.According to police, complainant Kamlesh Raiyani has accused Manoj Hirpara of Surat, Jaydeep Hirpara of Ahmedabad, and Surat-based Ritvik Ribadiya and Kaushik Kathrotiya of cheating him and his family. As per the complaint, Raiyani, who has been working as an agent with Life Insurance Corporation (LIC) since 2014, came into contact with the accused in 2016 through an acquaintance. He was introduced to their firms—Ample Business and Ocean Technology — with assurances of high returns on investments.Police said Raiyani initially invested Rs 1,200 and later Rs 1.3 lakh. The accused allegedly credited returns in the initial phase, which built trust and led to further investments. Over time, Raiyani and his father, Jayanti Raiyani, invested a total of Rs 32 lakh.However, the accused allegedly stopped payments and avoided repayment on various pretexts. When repeated attempts to recover the money failed, Raiyani approached the police.Police officials said a probe has been launched and efforts are underway to trace the accused using technical surveillance and human intelligence.The accused have been booked under IPC sections 409 (criminal breach of trust) and 120B (criminal conspiracy), along with provisions of the Gujarat Protection of Interest of Depositors Act.