Goa Cyber Crime Police Arrest Maharashtra Man in ₹27.54 Lakh Online Investment Fraud Case

₹12.61 Lakh Frozen and Secured for Possible Restoration to Victim; Accused Arrested from Ulhasnagar in Thane District

Goa Khabar: Goa Cyber Crime Police have achieved another major breakthrough in their investigation into online financial fraud by arresting a 47-year-old man from Ulhasnagar in Maharashtra’s Thane district in connection with an alleged online investment scam involving ₹27.54 lakh.

The accused has been identified as Ramesh Rajaram Varude (47), a resident of Ulhasnagar, Thane, Maharashtra. He was arrested on October 27 after investigators traced financial transactions linked to the fraudulent investment scheme.

According to a press note issued by the Superintendent of Police, Cyber Crime, the case was registered at the Cyber Crime Police Station under Crime No. 91/2026 following a complaint lodged by Joaquim Colin, who reported being cheated of ₹27,54,000 through a fraudulent online investment scheme.

The offence has been registered under Sections 318(4) and 319(2), read with Section 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with Section 66-D of the Information Technology Act.

Accused Identified Through Financial Transaction Trail

During the investigation, Goa Cyber Crime Police examined the financial transactions associated with the alleged fraud and successfully traced the movement of funds.

The investigation revealed that accused Ramesh Rajaram Varude was a beneficiary of ₹8 lakh from the fraudulent transactions.

Based on the financial evidence and investigative leads, the police identified his location in Ulhasnagar, Maharashtra.

A dedicated team of Goa Cyber Crime Police subsequently travelled to Maharashtra, traced the accused and arrested him on October 27, 2026.

Following his arrest, Varude was brought to Goa for further investigation into his alleged involvement in the online investment fraud.

₹12.61 Lakh Frozen and Secured

In another significant development, Goa Cyber Crime Police successfully froze and secured ₹12,61,330.01 linked to the fraudulent transactions.

According to the police, the amount has been secured for possible restoration to the victim.

The recovery-related action represents a significant step in the investigation, with police continuing efforts to trace the financial transactions connected to the case.

Special Police Team Conducted Interstate Operation

The operation was carried out by a dedicated team of Goa Cyber Crime Police comprising Police Inspector Sujay Korgaonkar, Police Sub-Inspector Khushali Naik, Head Constable Viraj Narvekar, Head Constable Karol Sheikh and Police Constable Laxman Chari.

The team coordinated the investigation, traced the accused in Maharashtra and successfully completed the interstate arrest operation.

Investigation Under Senior Police Supervision

The investigation is being conducted under the supervision of SP Cyber Crime Jivba Dalvi and ASP Cyber Crime Shridevi B. V.

The operation was also carried out under the guidance of DIG Goa Ved Prakash Surya, IPS, whose directions, according to the police press note, have strengthened cybercrime investigations and interstate coordination.

Goa Cyber Crime Police have been conducting investigations into online investment fraud cases, focusing on tracing financial transactions, identifying beneficiaries of fraudulent transfers and securing funds wherever possible.

The arrest in the ₹27.54 lakh investment fraud case marks another development in these ongoing efforts.

Police have confirmed that further investigation is underway.