A major financial scam has been unfolding in Surat, led by Shah’s Investment, a company operated by Hardik Shah and Pooja Shah. The company, despite not being registered with the Securities and Exchange Board of India (SEBI), has been falsely claiming to be SEBI-registered, leading many investors to believe their money was in safe hands. The company promised fixed monthly returns on investments, with a minimum investment of ₹50,000. However, recent developments reveal the fraudulent nature of the operation, and the public needs to be aware of the growing risks.
Shah’s Investment has been promoting its schemes through its website (https://shahsinvestment.com/) and Instagram account (@shahs_investment). They attracted a significant number of investors by offering seemingly generous returns. Investors were promised 4% returns within 1 month and 12 days, 8% within 2 months and 15 days, and 12% returns within 3 months and 10 days. The company continued to entice individuals by promoting these lucrative investment opportunities through social media, running ads that featured paid celebrity endorsements and influencer marketing to establish credibility.
However, just about 5-6 months ago, Angel One Limited, a legitimate and well-known stock brokerage firm, issued a press release to warn the public about Shah’s Investment. In this statement, Angel One clarified that their name was being misused by Shah’s Investment to create a false sense of legitimacy. They explicitly stated that they had no association with Shah’s Investment, nor were they responsible for any transactions involving this company. Angel One also urged the public to stay away from such companies, highlighting the dangers of being misled by false promises and deceptive tactics.
Despite this warning, Shah’s Investment continued its operations, operating in full swing. They have not only been using misleading tactics, such as falsely claiming to be SEBI-registered, but they also ran paid campaigns on Instagram, featuring celebrity and influencer videos to promote their fraudulent schemes. This created a false sense of security among potential investors, who believed that the endorsement of well-known personalities lent credibility to the operation.
Some promotional videos are here:
https://www.instagram.com/reel/DGXQY4byITc/
https://www.instagram.com/p/DCLhr1fSbhM/
But the situation has taken a turn for the worse in recent months. According to local sources, Shah’s Investment has stopped providing the promised returns to its investors. In fact, many people who tried to withdraw their money have been met with constant delays, with some waiting for 2-3 months without receiving any funds. The company has continued to offer empty promises, giving future dates for withdrawals, but these dates always seem to pass without any action being taken.
It has become increasingly clear that Shah’s Investment was running a classic Ponzi scheme. Initially, they used the funds from new investors to pay returns to older investors, creating the illusion of a successful business. But as the scheme began to collapse, the company found it harder to maintain the illusion of profitability. Now, as the promises of fixed returns are no longer being met, many investors are left with no way to recover their money.
The most troubling part of this situation is that Shah’s Investment has continued to target vulnerable individuals, especially those who are not well-versed in financial markets. They have used social media and celebrity endorsements to make the scam appear legitimate, and it is likely that many unsuspecting investors will lose large sums of money before the authorities intervene.
The public must remain vigilant and cautious when approached by companies offering guaranteed high returns on investments. It is crucial to verify any company’s credentials before investing. Always check for SEBI registration and be wary of schemes that seem too good to be true. Ponzi schemes, such as the one being run by Shah’s Investment, are designed to exploit people’s trust and lack of knowledge in the financial market.
In conclusion, Shah’s Investment, led by Hardik Shah and Pooja Shah, represents a serious financial scam that has affected many people in Surat. Their use of misleading tactics, false promises of high returns, and misuse of reputable names like Angel One Limited has left investors at a significant risk of losing their money. The public must heed the warnings issued by Angel One and remain cautious of companies that operate in this manner. It is time to take action and protect yourself from falling victim to such fraudulent schemes.
