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Maharashtra man arrested. Rs 2.45 crore fraud. Investigation continues.

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Maharashtra Man Arrested for Rs 2.45 Crore Fraud in Goa

A man from Maharashtra has been arrested for defrauding a Goa resident of Rs 2.45 crore through fake stock market investment promises. Authorities found Rs 13.5 lakh in his account and are investigating potential accomplices.

Maharashtra Man Arrested for Rs 2.45 Crore Fraud in Goa

Panaji, Jul 7 (PTI) A Maharashtra resident has been arrested for allegedly defrauding a Goa local out of Rs 2.45 crore by promising lucrative returns on stock market investments, a police official reported on Monday. The cyber crime police station has identified the suspect as Sanjay M Chavan, aged 45.

"Chavan pretended to be a stock broker and enticed a resident of Salcete to participate in a WhatsApp group and invest Rs 2.45 crore over time, assuring significant returns," stated the official. The financial investigation led to Chavan's arrest on July 6, with Rs 13.5 lakh found in his bank account.

A case has been filed under the Bharatiya Nyaya Sanhita and the Information Technology Act. Authorities are actively investigating to determine if additional individuals are implicated in this scheme.

(Only the headline of this report may have been reworked by Editorji; the rest of the content is auto-generated from a syndicated feed.)

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