Surat’s Hardik Shah and his wife Pooja Shah, who ran Shah’s Investment and once received awards from Gujarat Chief Minister Bhupendra Patel and Minister of State for Home Harsh Sanghavi, have been arrested by CID Crime in connection with a multi-crore investment scam.
The couple, operating from Silver Stone Accord on Singanpor-Causeway Road, lured investors with promises of 12–15% returns within 100 days. To gain credibility, they roped in Gujarati actors Janki Bodiwala, Pooja Joshi, Mitra Gadhvi, and influencer Khajur Bhai (Nitin Jani) for promotions.
Several investors complained after failing to recover their money, leading to the exposure of a 1.33 crore fraud. Two separate cases have already been filed against the couple, who are currently lodged at Chowk Bazaar Police Station.
Investigations reveal they spent crores on lavish offices in Singanpor and Adajan using investor funds. So far, four victims have filed formal complaints, but police believe more investors may surface, indicating a larger fraud.
On its website, Shah’s Investment claims it was honored as the “Most Inspiring Company of Wealth Management and Financial Planner” by the Gujarat CM.