Ahmedabad Trader Loses ₹3 Crore in EB-5 Visa Scam

An Ahmedabad trader has fallen victim to a significant fraud involving the EB-5 visa program, losing a staggering ₹31 crore (approximately $3.7 million) in the process. The victim, identified as Mital Chokshi, was promised a pathway to a Green Card for himself and his family through an investment in a New Jersey-based hotel. The EB-5 visa program, designed to attract foreign investment in U.S. businesses, requires investors to put a minimum of $1 million into a qualifying project that creates at least ten jobs for American workers.

Chokshi was lured into the scam by a purported broker named Rakesh Shah, who assured him that his investment would be safe and would yield a Green Card in exchange for creating jobs. Chokshi transferred substantial amounts of money over time, reportedly believing that he was investing in a legitimate business opportunity. However, as time passed, he became increasingly concerned about the lack of transparency and updates regarding his investment and visa status.

After realizing that he had been defrauded, Chokshi filed a complaint with the Ahmedabad Cyber Crime Police. The police began their investigation, leading to the arrest of Shah, who is believed to have misled multiple investors regarding the EB-5 program. The authorities are now tracking down others involved in the scam, including the developers in New Jersey, to understand the full extent of the fraudulent operation.

This incident highlights the risks associated with investment visa programs like the EB-5, where prospective investors must exercise caution and conduct thorough due diligence before committing significant sums of money. As immigration fraud cases continue to rise, it serves as a reminder for individuals seeking opportunities abroad to be vigilant against scams that exploit their dreams of a better life.