PANAJI
Notorious property broker Noor Ahmed, who conned several locals of crores of rupees with a promise to give them homes on a long lease, has been arrested in a joint operation by Goa Crime Branch, Nepal and Bihar police. The conman was nabbed from the India-Nepal border while he was trying to cross over in a bid to evade arrest.
The Economic Offenses Cell (EOC) has registered First Information Reports (FIRs) against him while around 70 complaints against Noor and his wife Nahir are under scrutiny.
Superintendent of Police (CB) Nidhin Valsan said that Noor, a native of Bihar and living in Goa for nine years, lured 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.
The broker earned a minimum of Rs 5 lakh from each victim who was told that they will be given the flat on lease for a considerable period of time and will eventually be the rightful owners that will fetch them monthly returns. Police’s initial investigation revealed that to build trust, the accused initially paid monthly returns to his victim buyers in a scheme launched in 2018.
On accumulating a lump sum amount, Noor then fled from Goa and refused to answer phone calls from his victims. Hundreds of complaints were filed with the Vasco police thereafter, which were then transferred to the EOC. Valsan said that nearly 250-odd people are duped and the fraud is pegged at Rs 3.80 crore so far.
Given this scam, Valsan has urged people to not fall prey to ‘Ponzi schemes’ as of eight cases registered with the Economic Offence Cell, nearly six cases have the same modus operandi wherein victims with exceptionally high income are cheated.
“People have to be cautious and not get lured with such Ponzi schemes. If you come across suspicious schemes, connect with the 112 helpline number or lodge a complaint on our official website,” he said, conceding that recovery is difficult in such cases particularly if the accused claims he has spent the money. “If he has invested in assets, it can be recovered to return money to victims.”
