Panaji: The Cyber Crime Police Station in Goa has arrested one person in connection with a high-value investment fraud case amounting to Rs 2.45 crore, officials said on Monday.
The case was registered under FIR No. 20/2025, under Sections 318(4), 319(2) read with 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with Section 66D of the Information Technology Act, a senior police spokesman said.
According to police, the accused persons impersonated stock brokers of “Nuvama Wealth and Investment” and lured a resident of Salcete into joining a WhatsApp group by promising high returns through stock market investments.
The victim was manipulated into transferring a total of Rs. 2.45 crore to various bank accounts over a period of time, he said.
Following a detailed financial trail investigation, one of the first-level account holders, identified as Sanjay M Chavan (45), a resident of Maharashtra, was arrested on July 6.
He aid Rs 13.5 lakh from the defrauded amount had been deposited into his account under the pretext of delivering high returns.
Police said further investigation is underway and more suspects are yet to be traced and arrested.
The spokesman has urged citizens to exercise caution while investing online and to report any suspicious activity to the Cyber Crime Police Station.
