A fake government identity, fabricated cryptocurrency records and promises of high returns were allegedly used to cheat 3 Surat residents of nearly Rs 2 crore. Police have arrested a 34-year-old MTech-qualified engineer, Priyank Vyas, from a residential apartment in Mira Road, Mumbai.
According to DCP (Cybercrime) Bishakha Jain, Vyas allegedly posed as a government cyberforensic officer and claimed to hold a doctorate in cybercrime. He displayed a fake identity card bearing the national emblem and the words ‘Satyamev Jayate’, claimed to travel in a government-boarded car and used a UPI ID and email account linked to cyberforensic services. He also used the title ‘Dr’ and a South African phone number to gain credibility.
Jain said Vyas had earlier been cheated on an online investment platform, globalswiftpay.com, along with co-accused Rohan Kelawala. The platform showed investments and profits online, although the transactions were not genuine. The 2 allegedly decided to use a similar method to cheat others.
How the investment fraud worked
The alleged fraud began in November 2025 when chartered accountant Kelawala introduced Vyas to the complainant, who needed help with banking and loan-related work. Vyas claimed he could earn high returns through forensic trading, IP servers and cryptocurrency transactions. He also offered the complainant a 20% business partnership.
In January, the complainant paid Rs 18 lakh after being promised Rs 30 lakh within 60 days. Vyas allegedly demanded further payments for server funds, IP purchases, cryptocurrency transactions, gas fees, transaction charges and withdrawal fees.
He shared fake screenshots of cryptocurrency transactions, foreign bank cards and successful fund transfers. When the victims tried to withdraw their money, he cited technical errors, wallet audits, withdrawal limits and server problems, asking them to pay more.
Between November 2025 and October 2026, the complainant transferred Rs 1.29 crore through cash, bank transfers, Google Pay, angadia channels and USDT. Vyas returned only Rs 4.7 lakh, leaving Rs 1.24 crore unpaid. His friend allegedly paid Rs 74.90 lakh, while another Surat resident lost Rs 7.50 lakh through a similar scheme.
Luxury purchases and police seizure
Investigators allege that Vyas used the money for personal purchases instead of investments. He reportedly bought a Mumbai property worth around Rs 1.5 crore, purchased a BMW and paid around Rs 80 lakh as token money for another flat.
Police seized 2 mobile phones, 2 laptops, hard disks, pen drives, 3 crypto wallet cards, a fake cyberforensic identity card, bank documents and 2 cars, including a BMW and a Honda City. The seized property was valued at approximately Rs 9.65 lakh.
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