Rajkot: A 32-year-old accountant from Gujarat has allegedly lost Rs 4.12 crore after being lured into investing through a purported stock trading platform called “Hello Trades”, with the promise of high returns.
The alleged fraud came to light after the man, identified as Mitesh, approached the Rajkot Economic Offences Wing (EOW), claiming that he was unable to withdraw his remaining investment and the profits displayed on the platform.
According to his complaint, Mitesh invested a total of Rs 6,35,47,843 through the platform between 2024 and February 2026. He received Rs 4,23,15,169 back during that period, leaving a substantial amount allegedly locked on the platform.
The Rajkot EOW has registered a case based on the complaint and launched an investigation into the transactions, bank accounts and people allegedly linked to the platform.
How the accountant was introduced to the trading scheme
Mitesh, who lives in the Himmatnagar area near Rajkot’s 150-foot Ring Road, works as an accountant for several firms.
According to his complaint, he first came in contact with Naresh Sevakramani, a resident of Nashik in Maharashtra, through social media in 2021. At the time, Mitesh was seeking information about investing his savings in the stock market.
Sevakramani allegedly offered to assist him with buying and selling shares without charging additional fees initially. He also spoke about earning a commission through the arrangement.
As Mitesh was still learning about stock market trading, Sevakramani reportedly told him that no commission would be required at that stage. He allegedly shared several links with Mitesh through which the accountant began learning about trading.
The relationship continued for several years, during which Mitesh reportedly made investments of varying amounts as he gained experience in the market.
Investment increased after borrowing money
In 2024, Mitesh decided to increase the amount he was investing. According to his complaint, he borrowed money from friends for the purpose and discussed his plans with Sevakramani.
The accused allegedly then introduced him to a platform called “Hello Trades”.
Mitesh was reportedly told that Sevakramani would act as his agent and that a commission would have to be paid for the service.
After receiving a link from Sevakramani, Mitesh created an account on the platform. The website provided bank account details and QR codes through which users could deposit money.
According to the complaint, the accounts provided for depositing funds were held under names including Hello Trade, Siddhi Vinayak Enterprise, Pacify Infra, Weesbod Software, Monkey Enterprise, Maruti Money and Drishti.
Mitesh allegedly transferred money to these accounts on multiple occasions and shared screenshots of the transactions with Sevakramani through WhatsApp.
The corresponding amounts would then appear as balances in his account on the purported trading platform.
Rs 6.35 crore invested through platform
Between 2024 and February 2026, Mitesh claimed that he invested Rs 6,35,47,843 through the platform.
According to his complaint, Rs 4,23,15,169 was subsequently returned to him.
The accountant also allegedly transferred commission amounts to Sevakramani and other bank accounts as instructed.
For some time, the transactions appeared to provide him with access to the funds and returns displayed on the platform. The situation changed when he attempted to withdraw the money that remained in his account.
By February 2, 2026, the platform allegedly showed profits of around Rs 2 crore in addition to the outstanding principal amount.
Mitesh then attempted to withdraw the money through the platform.
Withdrawal request allegedly failed
When Mitesh selected the withdrawal option, an error reportedly appeared on the platform and the money could not be transferred to his bank account.
He then contacted Sevakramani to find out why the withdrawal had failed.
According to the complaint, Sevakramani told him that the withdrawal would be arranged within a day or two. However, the money was allegedly not released.
Mitesh subsequently tried contacting Sevakramani again, but the accused allegedly stopped responding to his calls.
The failure to withdraw the funds led Mitesh to suspect that the trading platform and the investment arrangement may have been fraudulent.
Rs 4.12 crore allegedly remains unpaid
According to the complaint filed with the Rajkot EOW, around Rs 2.12 crore of Mitesh’s invested principal remained unpaid.
In addition, the platform allegedly showed approximately Rs 2 crore in profits that he was unable to withdraw.
Together, the two amounts resulted in an alleged loss of Rs 4,12,33,655.
The figures in the complaint indicate that the amount allegedly lost was a substantial portion of the total funds Mitesh had transferred through the platform.
He subsequently approached the Rajkot EOW and named Sevakramani along with other individuals associated with the bank accounts into which he had deposited money.
EOW investigates bank accounts and transactions
The Rajkot Economic Offences Wing has registered a case following Mitesh’s complaint.
Investigators are examining the bank accounts allegedly used to collect the deposits, the transaction trail and the individuals connected to those accounts.
Police are also attempting to trace and apprehend the accused named in the complaint.
A key part of the investigation will be determining how the money moved after it was deposited into the various accounts and whether the accounts were connected to a wider network.
The EOW is also expected to examine the operation of the purported “Hello Trades” platform and establish who controlled it.
Investigators will further look into whether other investors may have been approached using a similar method.
Investigation to establish wider network
The case highlights how purported online investment platforms can display apparently successful trades and profits while making withdrawals difficult or impossible.
In this case, Mitesh’s complaint alleges that money transferred to multiple bank accounts subsequently appeared as balances on the trading platform. The alleged fraud surfaced only when he attempted to withdraw a large amount.
The police investigation will determine whether the platform was used as part of a wider investment fraud and whether other people were involved in soliciting funds.
Until the investigation is completed, the allegations against the named individuals remain subject to the findings of the police and the judicial process.