Ahmedabad. Four traders in the city have allegedly been duped of ₹1.46 crore in the name of cryptocurrency investment after being promised daily returns of 1.5%. The accused, allegedly operating in the name of ‘Block Aura’, reportedly encouraged the investors to put money into a cryptocurrency called TBAC Coin. To build confidence, the investors were allegedly invited to meetings at different locations and were even taken to Singapore. Later, when they attempted to withdraw their money, the withdrawals were allegedly stopped.
Ramol police have registered a case against 12 people based on a complaint by a trader from Vastral and have begun an investigation. The accused are from Ankleshwar, Limbdi, Botad, Rajkot and other areas. Police are investigating the alleged investment network, the flow of funds and the role of each accused.
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According to the complaint, printing trader Bharatbhai Karshanbhai Motka, who lives near Swaminarayan Temple on Vastral Ring Road, came into contact with Amit Multani and Azruddin Multani in 2022. The two allegedly claimed to be associated with Block Aura and introduced Motka and his friends to an investment scheme involving a cryptocurrency called TBAC Coin. They allegedly promised returns of 1.5% every day, following which the complainant and his friends became interested in investing.
The investors were subsequently invited to a meeting in Lonavala, where they were allegedly introduced to Firoz Multani and Nitin Jagtyani as the main operators of the company. Another meeting was later held at Sargam Hotel on Vastral Ring Road, where the accused allegedly collected money from the four investors.
According to the complaint, Bharatbhai Motka invested ₹56.73 lakh, Nileshbhai Saravadiya ₹55.03 lakh, Samirbhai Merchant ₹24.86 lakh and Bhargavkumar Patel ₹9.98 lakh. The total amount allegedly collected from the four investors was around ₹1.46 crore. Separate identification accounts were reportedly created for the investors after their payments. The complaint also alleges that some of the money was sent to Surat through an angadia service from Odhav.
The investors were allegedly taken to Singapore as part of efforts to strengthen their confidence in the scheme. According to the complaint, Nitin Jagtyani and Fardeen allegedly offered the investors commissions for bringing in additional deposits from other people. The alleged offer was made as the accused sought to expand the investment network.
The investors later attempted to withdraw their money, but the withdrawals were allegedly stopped on the pretext of a system update. Another meeting was subsequently held in Sasan, where the investors were allegedly told that the value of the cryptocurrency token would rise. However, according to the complaint, the investors remained without their principal amount or the promised returns for a prolonged period.
Ramol police have registered a case against Firoz alias Thutho Dilawar Multani, Azruddin Satarbhai Multani, Nitin Jagtyani, Amit Manubhai Multani, Maksudali Ayubbhai Saiyed, Amzad Abdulbhai Multani, Azruddin Karimbhai Multani, Sajid Sirajbhai Pinjara, Salim Mahmadbhai Multani, Yasin alias Lalu Mahmandbhai Multani, Imran Dilawar Multani and Fardeen Firoz Multani.
Police are now investigating how many people were allegedly involved in the investment scheme, where the money collected from investors was transferred and how it was used. Investigators are also examining the claims associated with TBAC Coin and Block Aura and whether other investors may have also fallen victim to the alleged network.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
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