Goa Police Bust ₹4.74-Crore Fake Investment Scam, Key Accused Held

Goa Police have uncovered a large fake investment scam in which a senior citizen from Panaji was cheated of ₹4.74 crore. The prime accused, Suraj Eknath Sawant, was arrested from Kolhapur after a sustained investigation.

According to officials, Sawant lured the victim with promises of high returns through a fraudulent investment scheme. During the probe, police found that ₹80 lakh from the scam had been routed through multiple bank accounts. These accounts were linked to eight cyber-fraud cases registered in other states, involving a combined amount of ₹13.10 crore — indicating the scam’s wider interstate network.

So far, three individuals have been identified in connection with the crime. Two of them, including Sawant, have been arrested, while one has been served a notice. The investigation continues as police work to trace the flow of the diverted ₹80 lakh and determine Sawant’s role in the ₹13.10-crore frauds reported outside Goa.