A case involving an alleged investment fraud of around ₹10-11 crore has been registered at Nandgram Police Station in Ghaziabad, after a resident of Raj Nagar Extension accused four people, including two women, of inducing him to invest money in the name of multinational companies, forex trading, and multi-level marketing. The complainant alleged that the accused initially gained his confidence through smaller financial transactions before persuading him to make a substantially larger investment.
Building Trust Through Small Transactions First
The complainant, Sandeep Goyal, a resident of VVIP Addresses Society in Raj Nagar Extension, alleged that he was introduced to several businessmen by Ravi Rana, a resident of Sector 22, Noida. According to the complaint, the initial dealings involved transactions of around ₹10-20 lakh, which were completed on time. This timely return of money allegedly helped the accused establish credibility, convincing Goyal that the proposed investment opportunities were genuine.
The complainant said Rana later introduced him to Renu Chauhan, a resident of Sonipat, Haryana, who allegedly claimed to be associated with Amway and presented investment opportunities linked to OctaFX forex trading and multi-level marketing. According to the complaint, she promised returns of around 40-50%, portraying the proposed investments as highly profitable business opportunities.
A Trip to Dubai That Escalated Things
The alleged fraud escalated after Goyal was taken to Dubai in July 2023. According to the complaint, the accused allegedly showcased business opportunities and presented a picture of large-scale commercial operations, encouraging him to invest substantially more money. After returning from the trip, Goyal allegedly made a one-time investment of ₹3 crore in August 2023.
According to the complainant, this investment was subsequently increased through additional transactions and eventually reached approximately ₹10-11 crore. He alleged that the accused continued assuring him his money was invested in profitable ventures that would generate substantial returns, with the earlier successful transactions and assurances allegedly reinforcing his confidence in the arrangement over time.
The Point of No Return: Threats When He Asked for His Money Back
The situation changed on January 29, 2026, when Goyal allegedly sought the return of his money. According to his complaint, the accused refused to return the amount, and when he repeatedly demanded it back, he was allegedly threatened with serious consequences, including death. This threat prompted him to approach the police and seek legal action against those involved.
Who's Been Named in the Case
Four people have been named as accused: Renu Chauhan, a resident of Sunshine County in Sonipat; Dayawati, also from Sonipat; Saurabh Chauhan, a resident of Sisana village in Baghpat; and Ravi Rana, a resident of Sector 22, Noida. Police are now examining the specific role allegedly played by each accused in inducing the complainant to invest money and handling the subsequent transactions.
Tracing the Financial Trail
Following the complaint, Nandgram Police Station registered a case under relevant legal provisions against all four accused, on the directions of ACP Ziauddin Ahmad. Police have begun examining the evidence submitted by the complainant and are expected to scrutinise bookkeeping services in India-style financial records, transaction details, communications, and other documents connected with the alleged investment arrangement, systematically reconstructing how the money moved over time.
Investigators will also examine the claim that the accused initially conducted smaller transactions to build trust before encouraging the complainant to invest a much larger amount. Bank account details and the movement of funds will be important parts of the investigation, aimed at establishing exactly where the money went and whether it was transferred to other individuals or accounts along the way.
Was This a Wider Network?
The alleged use of established business names, forex trading, and multi-level marketing is also being examined closely. Police will seek to determine whether any genuine investment activity actually took place, or whether these references were allegedly used purely to convince the complainant to transfer money.
The investigation will also try to establish whether other investors were approached using the same method. If similar complaints or financial transactions emerge, investigators may examine the possibility of a wider network operating across multiple locations.
At present, police have registered the case and begun investigation based on the evidence provided by the complainant. The alleged amount involved, the financial trail, and the role of each accused will become clearer as investigators verify the transactions and other evidence, with any further action, including arrests, depending on the findings of the ongoing probe.
FAQs
Q1. How much money did the complainant allegedly invest in total?
Sandeep Goyal alleged that his investment, which started with an initial ₹3 crore payment in August 2023, was subsequently increased through additional transactions and eventually reached approximately ₹10-11 crore.
Q2. How did the accused allegedly build the complainant's trust before the larger fraud?
The accused reportedly conducted smaller transactions of ₹10-20 lakh that were completed on time, establishing credibility before persuading Goyal to invest much larger sums in forex trading and MLM schemes.
Q3. What happened when the complainant demanded his money back?
When Goyal sought the return of his money in January 2026, the accused allegedly refused and threatened him with serious consequences, including death, prompting him to approach the police.