In a major investment scam, Jigar Nimawat and Deepak Shah have been arrested by the Economic Offences Wing (EOW) of the Crime Branch for defrauding Bopal residents of nearly Rs57 lakh. The victims were promised guaranteed returns of 4% per month on their investments in a business operated by a company called Ever Grow Investors, based in Surat with an office in Ahmedabad.
The scam began in December 2020 when Anuj Thakar, a resident of Bopal and an event manager, made business contact with Jigar Nimawat, who introduced himself as the national head of the company. Nimawat assured Anuj and his family that their investments would yield a 4% return every month. Encouraged by this promise, Anuj invested Rs5 lakh on behalf of himself and his relatives.
In addition to Nimawat, Ketan Solanki (chairman) and Hiren Jogani (managing director) were also involved in the operation. Deepak Shah further promoted the firm by presenting a tour and travel business opportunity at a seminar organized by the company. This led the victims to invest even more money, ultimately contributing a total of Rs57 lakh.
Despite the promise of consistent returns, the victims received no returns after one year. The company then claimed that the investments were “stuck” and could not be refunded.
The Economic Offences Wing took action after Prafulbhai Thakar—Anuj’s father—and other family members filed a formal complaint. The police have arrested Jigar Nimawat and Deepak Shah, and are investigating further to identify other individuals involved. A case has been registered against several others, including Hiren Jogani, Chandani Jospara, and Harsh Solanki.
