Maharashtra Cyber Fraud: 45-Year-Old Man Arrested For Duping Goa Resident Of ₹2.45 Crore In Stock Market Scam

Panaji, Jul 7: One person from Maharashtra was held for allegedly duping a Goa resident of Rs 2.45 crore after promising high returns on stock market investments, a police official said here on Monday. The cyber crime police station official identified the accused as Sanjay M Chavan (45).

"The accused posed as a stock broker and lured a Salcete resident to join a Whatsapp group and invest Rs 2.45 crore over a period of time after promising high returns. The probe into the financial trail led us to Chavan, who was arrested on July 6. A sum of Rs 13.5 lakh had been deposited in his account," he said.

A case was registered under Bharatiya Nyaya Sanhita and Information Technology Act, the official said, adding a probe was underway to find if more persons are involved in the racket.

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