Online investment fraud targeting senior citizens has prompted renewed concern in Goa after police arrested 2 men in connection with a scam that allegedly cost a 60-year-old resident of Porvorim more than Rs 39 lakh.
The Cyber Crime Police Station traced the accused to Pune and recovered Rs 23 lakh of the defrauded amount. A team led by PSI Anil Polekar arrested Sagar Prakash Dholvi on Friday and Ajinkya Ravindra Abhang on Saturday. Cyber Crime SP Jivba Dalvi said the men were allegedly involved in a fake online share investment scheme.
The case was registered on October 3 following the victim’s complaint. He said that between August 21 and September 28, fraudsters contacted him through WhatsApp using different mobile numbers and persuaded him to join a fake investment group called ‘A83 DI Wealth Growth Centre’.
They promised attractive returns and convinced him to transfer more than Rs 39 lakh into multiple bank accounts. To build trust, the fraudsters displayed fake profits through a fraudulent investment app. When the victim tried to withdraw his money and the claimed profits, they demanded additional payments and eventually stopped responding.
Investigators traced the financial transactions and found that Rs 10.8 lakh had been transferred to Abhang’s account and Rs 12 lakh to Dholvi’s account. Police subsequently tracked and arrested both accused in Pune.
“The public should remain extremely cautious while dealing with online investment opportunities circulated through WhatsApp, Telegram, Facebook and other social media platforms,” said Dalvi.
Police issue investment fraud warning
Goa Police has recently directed banks to temporarily pause transfers made by senior citizens to unknown or unfamiliar accounts and verify the purpose of such transactions with them.
Police have also advised citizens to:
- Avoid investment offers promising guaranteed or unusually high returns.
- Stay away from unknown WhatsApp and Telegram groups offering exclusive stock tips or guaranteed profits.
- Verify investment advisers and trading platforms through official SEBI and stock exchange channels.
- Never transfer money to unknown personal or third-party accounts on the instructions of supposed advisers.
- Be alert to fake trading apps that display artificial profits.
- Never pay additional taxes, verification charges or withdrawal fees to access supposed investment returns.
Anyone who suspects financial cyber fraud should immediately call the National Cyber Crime Helpline at 1930 or file a complaint at cybercrime.gov.in.
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