The Economic Offenses Cell (EOC) of Goa Police arrested property broker Noor Ahmed, in a third FIR registered against him for duping several investors in Goa.
The 34-year-old native of Bihar has been living in Goa for nine years during which he lured hundreds of gullible locals with a deal to own flats on a long lease.
He ensured that the original flat owners and his victims never meet in person.
In one of the complaints, 66 investors alleged the broker took a minimum of Rs 5 lakh from each.
They were also promised a flat on lease for a considerable period and that they will eventually be the rightful owners for which they will earn monthly returns.
The accused however cheated them and was arrested from the Indo-Nepal border.
The Crime Branch has already urged people to not fall prey to such ‘Ponzi schemes’.
