In the name of investing in Gift City, investors had to cry: Shoot Space MD Utpal Patel went underground with his family, 32 investors filed a written application, two people recorded a statement

A company named 'Shoot Space Digital Private Limited' in Gandhinagar's Gift City has been involved in a scam worth crores of rupees in the name of investing in terabyte data space. Hundreds of investors, including Gujarat, Haryana and Goa, have had to cry red water after the company's MD Utpal Patel suddenly went underground. In this case, about 35 investors have given written and oral submissions to the Dabhoda police station about the fraud of crores of rupees. Invested crores of rupees by luring them with high returns The company implemented a scheme to buy terabytes of data space to attract investors, promising a return of 5 per cent per month. In the initial stages, after winning the trust of investors by giving timely returns, people invested crores of rupees blindly by selling their life's savings, selling jewellery or taking loans. The sky fell on the investors' heads as the officials did not respond According to the investors, the company held public events like the Bhoomi Pujan on a large scale to create an image like a professional corporate group. Due to the luxurious office in a place like Gift City, people considered the company to be trustworthy for investment. Anger has erupted among investors as returns have been closed for two months and no responsible person is present at the company's office. Also read: Utpal Patel, who runs a medical store, faces Rs 400 crore scam in the name of Gift City According to preliminary estimates, more than 33,000 consumers are likely to be trapped in the scam and the total amount could cross Rs 400 crore. Some investors have been accused of losing amounts ranging from Rs 5 lakh to Rs 3 crore. Police demand necessary evidence from investors According to sources at the Dabhoda police station, 32 applicants have submitted written applications, out of which only two have recorded their statements. One is 85 lakh and the other is 45 lakh, so the two investors are stuck with a total of Rs 1.30 crore. Police have sought necessary evidence from other investors. There are also talks that the owner of the company has fled abroad. At present, the police have expressed their readiness to collect evidence and file a legal case. In the Zoom meeting, he claimed a turnover of Rs 312 crore In a telephonic conversation with an investor, he refused to appear on camera. He said that Utpal Patel had in the past held a Zoom meeting and claimed a turnover of Rs 312 crore and promised to pay the money within two months. The reason given was that the money had stopped due to the war. ALSO READ: 33,000 investors' money feared to sink in lure of 5% return per month However, even after the passage of time, everyone's patience has run out as they do not get the money. The company has also been locked down. I myself have invested 15 terabytes. We will all come together in front of the media. There is no need to do anything if the company pays the money. The police expressed their readiness to register a case As soon as the order of a thorough probe into the matter has been received from the highest level, the police have gathered enough evidence and are ready to file a case in the coming days. It remains to be seen how many of the victims who have reached the police station will openly cooperate in the police investigation.