AU Small Finance Bank

37-year-old Ahmedabad lecturer loses ₹68.94 lakh to former student investment scam via UPI and loans

A 37-year-old lecturer at LD Engineering College in Ahmedabad was defrauded of over ₹68.94 lakh by his former student in an investment scam. The accused, Saurabh Pawan Kumar Trivedi, used false claims of being associated with Aditya Birla Capital and a startup called Honix Enterprises to lure the victim. Between November 2022 and November 2023, the victim transferred funds through UPI, took out multiple loans, and used credit cards to send money to Saurabh’s accounts and a firm linked to him. The victim also liquidated stock holdings worth ₹3.44 lakh, which were sent to an Axis Bank account in Saurabh’s name. Saurabh occasionally sent small amounts to cover EMIs but eventually went missing. The victim filed an FIR in January 2025 after failing to contact Saurabh, and police are investigating under charges of cheating and criminal misappropriation.