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.
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. The timely return of money allegedly helped the accused establish credibility and convinced Goyal that the proposed investment opportunities were genuine.
The complainant said Rana later introduced him to Renu Chauhan, a resident of Sonipat, Haryana. She 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.
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, the investment was subsequently increased through additional transactions and eventually reached approximately ₹10–11 crore. He alleged that the accused continued to assure him that his money was invested in profitable ventures and would generate substantial returns. The earlier transactions and assurances allegedly reinforced his confidence in the investment arrangement.
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. He further alleged that when he repeatedly demanded his money, he was threatened with serious consequences, including death. The alleged threat prompted him to approach the police and seek legal action against those involved.
Four people have been named as accused in the case. They are 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 of the accused in inducing the complainant to invest money and handling the subsequent transactions.
Following the complaint, Nandgram Police Station registered a case under relevant legal provisions against all four accused. The case was registered on the directions of ACP Ziauddin Ahmad. Police have begun examining the evidence submitted by the complainant and are expected to scrutinise financial records, transaction details, communications and other documents connected with the alleged investment arrangement.
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 to establish where the money went and whether it was transferred to other individuals or accounts.
The alleged use of the names of established businesses, forex trading and multi-level marketing is also being examined. Police will seek to determine whether any genuine investment activity took place or whether these references were allegedly used only to convince the complainant to transfer money.
The investigation will also 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. Any further action, including arrests, will depend on the findings of the ongoing probe.
