Promoter of AISE Capital, Abhay Gandhi wanted by investors in Rs 500 cr Ponzi scheme, who is gone missing from Saturday, lived a lavish lifestyle.
Promoter of AISE Capital, Abhay Gandhi wanted by investors in Rs 500 cr Ponzi scheme, who is gone missing from Saturday, lived a lavish lifestyle. The 27-year-old had become a crorepati at a very young age. His company ran a Ponzi scheme that had become a hit in a short time.
Born on June 25, 1984, Gandhi was brought up in Ahmedabad. He studied at Amardeep School in Chandrangar. While his parents lived in Vasna, he had of late moved to a rented bungalow in Prahladnagar.
He started his venture, AISE Capital, in Ahmedabad a few years back. Gandhi slowly and gradually became popular for giving stock market tips. He also announced that he had become a Nifty king.
After Ponzi schemes were floated in Ahmedabad, Gandhi took a plunge in it and started his own scheme by offering 5% to 25% monthly returns on the investment amount. He used people’s money to lead a lavish lifestyle.
About four months back, he bought two luxury cars. While on January 1, 2011, he bought a BMW for himself, on January 16 he bought a Honda City for his fiancée. According to sources, the couple was to tie the knot in December 2011.
Gandhi was also fond of high-end bikes and owned two such bikes worth Rs5 lakh each. He participated in the bike rally of Gun Riders Club in 2007 and in the past, he had also travelled to Ladakh on his bike. His interests were not confined to this only. He took part in dance competitions and also participated in fashion shows.
He also helped his fiancée in opening a jewellery shop near Shivranjani crossroads. At the same shop, Gandhi had launched a gold scheme which later turned out to be a scam. For his business, Gandhi never bought any office or shop. All his four offices had been taken on rent. Interestingly, the rent of the office at Prahladnagar was around Rs5 lakh per month while that of Anandnagar office was Rs4 lakh. Both the tenants have got rent till March 2011.
Abhay Gandhi used his brother Paras Gandhi's printing press at Pritam Nagar to print certificates, documents and pamphlets for his business. He had about eight drivers and a staff of 50 people working in his offices.
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