PANAJI: The Cyber Crime Police have arrested a 45-year-old man from Maharashtra for allegedly defrauding a Salcete resident of Rs 2.45 crore by posing as a stock market broker and promising high returns on investments.
The accused, identified as Sanjay M. Chavan, lured the victim to join a WhatsApp group where the victim was convinced to invest large sums of money over time, a police official said.
“The accused posed as a stockbroker and offered lucrative returns. The victim ended up transferring Rs 2.45 crore in phases. Our investigation into the financial trail led us to Chavan, who was arrested on July 6. We’ve found that Rs 13.5 lakh was deposited into his bank account,” the official added.
A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. Police said the investigation is ongoing to determine if others were involved in the racket.
