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Surat cybercrime police have arrested a 34-year-old MTech-qualified engineer for allegedly cheating three residents of nearly ₹2 crore by posing as a government cyberforensic officer and promising high returns through cryptocurrency transactions and forensic trading. The accused, Priyank Vyas, was arrested from a residential apartment in Mumbai’s Mira Road area.
How Did the Accused Gain Victims’ Trust?
Investigators said Vyas introduced himself as a forensic cybercrime specialist with a doctorate. He allegedly displayed a forged identity card bearing the national emblem and the words “Satyamev Jayate” to establish credibility.
He also used the title “Dr Priyank Vyas” and operated communication accounts suggesting links to cyberforensic services. Police said Vyas had previously lost money on an online investment platform and subsequently adopted a similar method to cheat others.
How Did the Investment Fraud Begin?
The alleged fraud began in November 2025 when chartered accountant Rohan Kelawala introduced Vyas to a Surat resident seeking banking and loan-related assistance.
Vyas reportedly offered investment opportunities involving forensic trading and promised returns of around 20%. In January, the complainant initially transferred ₹18 lakh after being promised ₹30 lakh within 60 days.
Further payments were allegedly demanded for server purchases, cryptocurrency transactions, gas fees and withdrawal charges.
How Were Victims Convinced to Keep Paying?
Investigators said Vyas shared fabricated screenshots of cryptocurrency transactions, foreign bank cards and successful fund transfers to convince investors their money was being processed.
Whenever victims attempted withdrawals, he allegedly cited technical errors, wallet audits, server problems and transaction limits.
Between November 2025 and October 2026, the principal complainant paid approximately ₹1.29 crore through cash, bank transfers, Google Pay, angadia channels and USDT transactions. Only ₹4.7 lakh was returned.
How Many People Were Cheated?
Police found that the complainant’s friend had allegedly transferred ₹74.90 lakh, while another Surat resident lost ₹7.50 lakh through similar promises.
The three cases brought the suspected fraud amount to nearly ₹2 crore.
What Did Police Recover?
Investigators seized two mobile phones, two laptops, storage devices, three cryptocurrency wallet cards, a suspected forged identity card and banking documents. Two vehicles, including a BMW and a Honda City, were also seized.
Where Was the Alleged Fraud Money Spent?
Police suspect that Vyas diverted investors’ money towards personal purchases rather than the promised investments.
He reportedly purchased a Mumbai property worth approximately ₹1.5 crore, acquired a BMW and paid around ₹80 lakh as a token amount for another apartment. The investigation has raised concerns about fraudsters using false government credentials and fabricated cryptocurrency records to attract investors.
