Ahmedabad: ED ‘settlement’ promise turns out to be ₹3 crore fraud

Ahmedabad: An angadia operator from Shahibaug has alleged that he was cheated of Rs 3 crore by a group of individuals who allegedly promised to use their “high-level contacts” in the Enforcement Directorate (ED) to secure the release of Rs 11 crore seized during a search.

A complaint registered with the crime branch on Tuesday states the 59-year-old businessman, who manages the Ahmedabad operations of a multicity angadia firm, was approached shortly after an ED raid at the firm’s Navrangpura office in Dec 2024.According to the FIR, a Chandlodia resident claimed he could facilitate a settlement with ED officials and get the seized cash, four mobile phones and a DVR released within a few months.

The complainant alleged that the man later introduced him and his partners to a lawyer from Gota, who allegedly said that around 40% of the seized amount would be required to resolve the matter.The FIR alleges that the duo claimed to have contacts in Mumbai with influence in the ED and assured the complainant that they could help secure the release of the seized property. Relying on these assurances, the complainant and his partners allegedly transferred money through several angadia consignments and cash payments between Dec 2024 and July 2025.

Police said payments were made to different individuals in Mumbai and Ahmedabad using coded token systems based on currency notes. The complainant alleged that money was sought to settle matters with agencies, including the ED, the CBI, and the ATS.Cops said the complainant also signed a notarised agreement, allegedly on the instructions of the accused, showing a fictitious investment of Rs 13.2 crore by a jewellery firm.

Two signed blank cheques were also allegedly collected. Later, the complainant received a legal notice demanding repayment of the amount mentioned in the agreement with 9% annual interest.When months passed without the release of the seized cash, and repeated requests for refunds went unanswered, the businessman approached the crime branch. Police have booked five people, including a Chandlodia resident, a lawyer from Gota, a Nava Vadaj resident, and two people from Mumbai for cheating, criminal breach of trust, and criminal conspiracy.