NT NETWORK
MARGAO
Nilesh Raikar, the alleged accused in the multi-crore investment fraud by Kamakshi Forex, was produced before the judicial magistrate first class (JMFC) Margao court and a remand was taken till June 2.
Nilesh, a director of Kamakshi Forex had surrendered before the economic offence cell of the Goa police and after interrogation he was arrested.
The police said that till date around 419 investors have lodged complaints and the swindled amount is said to be over Rs 26 crore.
The police said that Nilesh started investing in the share market in 2014. Soon he suffered loss to the tune of Rs 2 crore. To recover the loss, he went on investing, the police said referring to Nilesh’s statements.
Subsequently he started an investment scheme and the money that came through the scheme was invested in the share market. He even took a loan for the purpose.
Nilesh, who invested in shares expected huge returns, but suffered a loss of Rs 2 crore.
The annual turnover of Kamakshi Forex was said to be around Rs 700 crore, the police said, adding that the firm has offices in Margao (main office), Panaji and Calangute.
His total outstanding loans in four banks is said to be over Rs 8.5 crore, police said.
The police said that till now over 412 investors have lodged complaints and the swindled amount is said to be around Rs 28.54 crore.
The police have already frozen around 52 bank accounts of Nilesh and his firm, and there is hardly any money in those accounts.
The EOC has registered an offence under criminal breach of trust, criminal conspiracy and cheating against Nilesh and directors of Kamakshi Forex for swindling crores of rupees from several depositors.
The firm has permission from the Reserve Bank of India to run foreign currency exchange but not for collecting and depositing money, said police sources.