VASCO
The Economic Offences Cell (EOC) of Goa Police has registered a case against two Pune-based companies ” Soil Properties & Infra India Ltd and Soil Properties & Estate India Ltd ” on charges of cheating several Goan investors of around Rs 7 crore through fraudulent deposit schemes.
According to police, between 2014 and 2019, the accused companies, through their chairman, directors, executives, and branch manager, allegedly lured investors to invest in recurring deposit (RD) and fixed deposit (FD) schemes by promising high returns and assuring safety of their investments.
Convinced by these representations, several individuals, including the complainant, invested substantial amounts through the firms’ Goa branch located at Patto-Panaji.
However, the accused reportedly misappropriated the collected funds for personal gain and failed to return the principal or promised interest upon maturity. They later shut down the branch and absconded without any intimation, leaving investors in distress.
EOC Police have registered the case under Sections 406, 409, 420, and 120B read with 34 of the IPC, and Sections 3 and 5 of the Goa Protection of Interests of Depositors (in Financial Establishments) Act, 1999.
Further investigation is being carried out by PI Razashad A Shaikh under the supervision of DySP Francisco Corte and guidance of SP Arshi Aadil (EOC).
