PANAJI
The Crime Branch (CB) sleuths have arrested absconding accused from Mumbai on charges of defrauding investors of Rs 5.8 crore. Akshay Sawant, proprietor of Venkateshwar Bullion Gold and a resident of Socorro, Bardez, was wanted since April 2023 after deceiving several investors by promising lucrative returns on investments in his gold trading business.
Mohd Sharif Wasim Khan led by four other Porvorim residents had filed a complaint against the accused.
Superintendent of Police (CB) Rahul Gupta informed reporters that Sawant, who presented himself as a gold trader, hired the complainants as agents to attract further investments for his company.
“The accused promised returns in the form of gold coins or biscuits but failed to deliver the promised gold or profits. The complainants and other investors were duped of Rs 5,79,77,000 and Sawant absconded,” the officer said.
The Porvorim police registered a case under Section 420 of the IPC after which the case was handed over to the CB.
The team on August 3 arrested Sawant, 34, and his accomplice Pallavi Ghadge, 33, also from Mumbai and seized 20 bank passbooks, 13 cheque books, a laptop, a printer, 14 mobile phones and eight ATM cards among other articles used to commit the offense. The bank accounts with deposits amounting to Rs 17 lakh have also been frozen.
SP Gupta said that further investigation revealed that Sawant had three prior cases registered against him in 2015, 2017, and 2021 at different police stations in Maharashtra.
“Further investigation is underway to uncover additional links and associates involved in the case,” he said.
