Surat : A textile factory owner from Velanja Crossroads in Kamrej was allegedly defrauded of Rs 43.83 lakh by a group of six people who lured him into fake forex and stock market investments under the pretext of offering high returns. The Sarathana police have registered a case and arrested two of the accused.Ankit Vinod Ribadiya, the owner of Radhe Industries in Pipodara, was introduced to the racket when he met Bhavesh Dholariya at the Gaay Pagla Temple in Kamrej in Jan 2024. Bhavesh claimed he had made substantial profits through various investments and offered to help Ankit do the same. He shared his contact details and invited Ankit to his office at Swastik Plaza in Sarathana.In Feb, Ankit met Bhavesh at his office, where he was shown a broker site related to FP market trading. Bhavesh assured him of an 8% return on a Rs 1 lakh investment in dollar-based trades. Convinced, Ankit invested Rs 1 lakh and was given login credentials for Meta Trader 4 and Meta Trader 5 platforms. A month later, $1,097 was credited to his account, further boosting his confidence.Encouraged by the returns, Ankit invested an additional Rs 30 lakh, which resulted in $33,000 being credited to his digital wallet. Bhavesh then persuaded him to reinvest the amount in forex trading.However, by Aug 2024, Ankit suffered a loss of Rs 11.5 lakh. Concerned, he visited Bhavesh’s office, where he was introduced to four others — Mukesh Ukani, Kishor Vaghasia, Rasik Siroya, and Mahesh Sheldiya — who claimed to be agents of Super Nova Wealth Company, operating in a strategy called Delta Hedging.Trusting the group, Ankit made further investments, Rs 2 lakh to Bhavesh, Rs 10.5 lakh to Mahesh, and Rs 7 lakh to Mukesh. Of the total Rs 50.5 lakh invested, only Rs 6.67 lakh was returned by Mahesh. The remaining Rs 43.83 lakh — including the losses — was never refunded.Sarathana police registered a case against five members of the group. Bhavesh Dholariya and Kishor Vaghasia have been arrested, while the search for the remaining accused is ongoing.