Ahmedabad police arrest two for Rs 16.73 crore chemical fraud

The Economic Offences Wing (EOW) of the Ahmedabad Crime Branch has arrested two men for allegedly cheating 19 chemical traders of approximately Rs 16.73 crore.

Mohit Sahani, proprietor of Elokogico Chemical Industries, was apprehended in Jaipur, while Kalpesh Patel was arrested in Ahmedabad. Investigators allege that Sahani built credibility with traders through small, timely payments before placing large orders for color dyes and chemicals on credit. He then allegedly withheld payments, closed his office and warehouse, and absconded. The police also noted that goods worth roughly five crore rupees were allegedly sold to Patel at approximately half their value while payments to the original traders remained outstanding.