Last week, I narrowly avoided a scam that could have cost me nearly ten lakh rupees. I am sharing the full story so others in the trade can stay cautious.

I was looking to procure 200 tons of maize from the Malegaon–Manmad region for the local market in Gujarat. I was contacted by a person who introduced himself as Rajnish. His profile seemed genuine, his pricing was aligned with the market, and he spoke with confidence. Everything appeared legitimate on the surface.

I insisted on visiting the warehouse before moving forward. Initially, he hesitated, saying many buyers visit and then disappear, but I made it clear that without verification I would not proceed. He then shared a contact named “Sushil,” who he claimed was the loading manager.

On Sunday, I travelled and was shown a warehouse by Sushil along with another man. Samples were taken for QC on Monday, but the quality did not match. When I informed Rajnish, he immediately redirected me to Manmad, saying Sushil would show me a different stock.

On Tuesday morning, everything became clear. When I reached Manmad, “Sushil” revealed that his real name was Arshad, not Sushil, and that he did not live in Malegaon as earlier stated. He told me that the person calling himself Rajnish was planning to take payment into a different account and then disappear. After that, once the truck was loaded from someone else’s warehouse, the real warehouse owner would stop the truck, saying no payment had been received. In that scenario, both the money and transporter charges become a total loss, with no legal footing to stand on.

To make matters worse, both individuals were pushing for urgent beneficiary addition, offering sudden price drops at night, and giving conflicting stories about stock ownership. The timelines and details simply did not match, and every step became more suspicious.

At that point, I discontinued communication with both and disengaged completely.

I am sharing this experience because such situations are becoming increasingly common, especially when commodity prices are rising. Many traders, especially new ones, may not have the field experience to catch the red flags early.

The lessons are simple but critical:

• Do not rely on videos, photos, or verbal guarantees • Never pay into a third-party account • Verify the real owner of the warehouse and the stock • Do not rush beneficiary additions under pressure • If the story keeps changing, stop immediately

A single visit and a few verification questions saved me from a significant loss. I hope this helps others stay alert and safe in their dealings.

If anyone in the community ever needs guidance on due diligence or wants to understand how to verify suppliers properly, I’m always open to share my experience.