3 accused of cheating 2,500 people of Rs 9.4cr

Times of India | 5 days ago | 22-09-2022 | 04:46 am

3 accused of cheating 2,500 people of Rs 9.4cr

Colva: Sessions court judge Irshad Agha on Tuesday granted bail to three accused — Swezel Fernandes, Limbaji K Lamani and Mueed Madhwani — nabbed by the economic offences cell for cheating 2,500 people of Rs 9.4 crore.Police said the accused were engaged by an investment company, Rangeeta Enterprises, which promised higher returns on investments in cryptocurrency.According to the police, JayKumar Gohil from Gujarat was operating the company since July 2021. He initially started approaching people directly to collect money and then started two offices, in Margao and Vasco.Police said that Gohil initially promised 20% weekly returns and 40% monthly returns on investments. As investments started pouring in, he reduced the interest rate and increased the tenure of the investments.He then hired the above accused as agents to secure investments from people with a promise that he would pay them three per cent of the funds they brought in.Soon, however, investors started raising questions as Gohil started defaulting on the promised returns. In July this year, he folded up the company and fled to Gujarat. The economic offences cell arrested him in his home state with the help of their counterpart there.

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Times of India | 1 day ago | 26-09-2022 | 04:45 am
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Times of India | 2 days ago | 25-09-2022 | 04:49 am
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2 days ago | 25-09-2022 | 04:49 am

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Govt urged to scrap amendments to land devpt regulations