Asian Games Gold Medallist Allegedly Falls Victim To Rs 69 Lakh Fraud: Here's What Happened

Asian Games gold medallist Sarita Gayakwad has approached the police after allegedly losing more than Rs 69 lakh in an investment arrangement linked to a sand trading business in Gujarat.

The 32-year-old athlete has accused a businessman of failing to pay the promised returns and return her investment.

The accused, identified as Nitin Bharti, allegedly offered Gayakwad a monthly return of four per cent if she invested in his business. He had also assured her that the entire principal amount would be returned after 12 months, according to the FIR.

The alleged fraud came to light after Gayakwad lodged a complaint at the Ahwa police station in Dang district. An FIR was registered against Bharti on October 29, Inspector K B Sankhla confirmed on Monday.

"Gayakwad was duped of Rs 69.10 lakh allegedly by Bharti, who offered her high returns on her investment. Based on the complaint by the athlete, we have registered an FIR against the accused, who is absconding. Efforts were on to nab him," Sankhla said.

The complaint traces the beginning of their association to 2024, when Gayakwad was introduced to Bharti through Jitubhai, the sarpanch of Gadhvi gram panchayat in Dang district.

During their meeting, Bharti allegedly presented his sand business as an established venture, claiming that he operated on a large scale from Vyara in Tapi district.

He reportedly told the athlete that his vehicles regularly transported sand to Mumbai and that he had invested between Rs 3 crore and Rs 4 crore of his own money into the business.

Convinced by the assurances, Gayakwad began investing in the venture. However, the promised four per cent monthly returns never materialised, and Bharti allegedly failed to return her money even after the one-year repayment deadline had passed.

The athlete's complaint also details her subsequent attempts to recover the amount. Bharti allegedly continued to assure her that the payment would be made. He later sent her a photograph of a Rs 30 lakh cheque on WhatsApp, claiming that it was being issued against the outstanding amount.

Despite this, Gayakwad did not receive the cheque. She further alleged that Bharti had stopped responding to her calls and had remained unreachable for around two months.

The total amount involved in the complaint has been pegged at Rs 69,10,059. Bharti, who belongs to Vyara town in Tapi district, is currently absconding, according to the police.

The accused has been booked under Sections 316(5) and 318(4) of the Bharatiya Nyaya Sanhita (BNS), pertaining to criminal breach of trust and aggravated cheating.

Gayakwad, who hails from Karadiamba village in Dang district and lives there with her parents, was part of the Indian women's 4x400m relay team that secured gold at the 2018 Asian Games in Jakarta.

With PTI Inputs