NRI loses 5.8cr in South Indian film investment scam

Surat: A 47-year-old Surat-based real estate businessman, currently working at a motel in the US, filed a complaint alleging that he was cheated out of Rs 5.8 crore, after being lured into investing in a South Indian film project with promises of high returns.The complainant, Hitesh Patel, alleged that the accused induced him to invest in movie production by promising good profits and timely returns. To gain his confidence, the accused sent him photographs of film shoots, suggesting that production was underway. After the money was transferred, the accused did not honour commitments or return the money, and later allegedly threatened Patel with dire consequences. According to the complaint, Patel worked as a real estate businessman and farmer in Surat until April 2023, after which he moved to the US to work at a motel in Georgia. In 2021, Patel met Ramesh Gangani, who offered him an investment opportunity. Gangani claimed that his partner, Chetan Maysuriya, owns a multiplex in Surat and ran a film production house. He told Patel that Maysuriya produced South Indian films and was looking for an investor for a big-budget project. Gangani assured Patel of good profits and timely repayment and arranged a meeting with Maysuriya. In Jan 2022, Patel met Gangani and Maysuriya at Madhuram Multiplex. During the meeting, Maysuriya claimed he had produced three South Indian films ready for release and had launched a new big-budget project that had stalled due to a shortage of funds. He offered Patel a partnership in the film with assured returns. Lured by the offer, Patel allegedly transferred Rs 5.8 crore to Maysuriya between Jan 2022 and April 2023 through various modes. Whenever Patel asked about the progress of the film, Maysuriya allegedly sent him pictures of shooting to maintain confidence. Before leaving for the US in April 2023, Patel sought clarity on his investment and executed a written notarized document with Maysuriya regarding the money he had lent. After moving to the US, Patel repeatedly followed up for the return of his money after the deadline passed. However, Maysuriya allegedly kept giving excuses and later threatened Patel over a phone call, warning him not to ask about the money and claiming that Patel would not be able to return to the US if he came back to Surat. Patel later returned to India and filed a complaint with Dindoli police. The probe has been handed over to the Economic Offences Cell.
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