Maharashtra Man Nabbed for ₹2.45 Crore Stock Market Scam in Goa
The financial trail led investigators directly to Sanjay Chavan
A 45-year-old man from Maharashtra has been arrested for allegedly defrauding a Goa resident of ₹2.45 crore through a fake stock market investment scheme, police said on Monday.
The accused, Sanjay M Chavan, reportedly posed as a stock broker and convinced a resident of Salcete to join a WhatsApp investment group, promising high returns from stock market trades. Over time, the victim transferred a total of ₹2.45 crore.
According to officials from the Cyber Crime Police Station, the financial trail led investigators directly to Chavan, who was arrested on July 6. During the investigation, it was found that ₹13.5 lakh had been deposited into his personal bank account.
Also Read: Four Dead in Tragic Samruddhi Expressway Crash in Washim
A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. Authorities are continuing their probe to determine if Chavan acted alone or is part of a larger cyber fraud network.
Also Read: MSRTC’s Financial Woes Laid Bare! ₹10,324 Cr Loss in FY24, White Paper Reveals
