A 45-year-old man identified as Sanjay M Chavan has been arrested in Maharashtra for allegedly defrauding a Goa resident of ₹2.45 crore in a sophisticated stock market scam. The arrest took place on July 6, following an investigation into the financial transactions linked to the fraud.
According to authorities, Chavan posed as a stockbroker and lured Goa resident into joining a WhatsApp group. Through this group, he persuaded the Goa resident to invest a substantial sum of money over a period, promising lucrative high returns.
“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.
During the investigation, police found ₹13.5 lakh deposited in Chavan’s bank account. A case has been registered against him under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act.
Authorities have indicated that the investigation is ongoing, with efforts to ascertain if more individuals are part of this fraudulent racket.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
