Main accused in seamen cheating case Nilesh Raikar who duped hundreds of seamen to the tune of rupees 50 crores was finally surrendered in front of the Goa Police on Friday. The complaint in regards to the cheating case was logged by the 50 semen on 15th April at EOC (Economic Offence’s Cell) at Panjim subsequent to which police started hunting for the accused who was apparently absconding from Goa.
According to the news published in the local daily ‘The Navahind Times’ the main accused in the multi-crore investment fraud, surrendered before the economic offence cell of the Goa police on Friday. Nilesh, a director of Kamakshi Forex, will be produced before a court in Margao on Saturday. Raikar walked into EOC office in the police headquarters all alone on Friday afternoon. Subsequently, he was placed under arrest.
The police sources have revealed that Nilesh Raikar and his family was very much in Goa for the past several days and they had taken shelter in a pilgrimage at Ponda-Shiroda. The police have also said that Nilesh made a trip to Mumbai few days back to find out about his investment into the stock market as he was aware of the police interrogation and wanted to prepare himself with the possible answers about the investor’s money.
The investigation has also revealed that while Nilesh left for Mumbai he did not carry any mobile phone with him and he also instructed his family members to leave the pilgrimage in case he does not return. On Thursday, Nilesh returned back to Goa and he directly went to the Shiroda Pilgrimage, however after not finding his family members there he came to Panaji and surrendered himself before the EOC.
The reason behind his surrender is said to be the lookout notice that was issued by the Goa police against him and his family members. The sources have also said that his mother Rekha Raikar and his wife Neelima Raikar are also the part of his business.
Following the statement of Nilesh, the police went to Shiroda pilgrimage to verify the facts. Meanwhile, Rekha and Neelima are still untraceable and police expect that they too will surrender soon.
The sources have said that the greed of making more money in a short time has outlaid Nilesh Raikar very much. The police have revealed the details of the statements of Nilesh’s share trading which shows that Nilesh started investing into the share market right from 2014 and he also faced the losses of rupees 2 crores and to recover the money he went on investing blindly which finally made him runaway. Subsequently, he started an investment scheme and the money that came through the scheme was invested in share market. He even took a loan for the purpose.
Nilesh, who had invested in shares expecting huge returns, had been advised by his well-wishers to stop investing in shares after he suffered the 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. Nilesh even took a loan from a bank and repaid around Rs 3 crore to investors in March.
His total outstanding loans in four banks run into over Rs 8.5 crore, the police said. The police said that till now around 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 police sources have said that the first has a permission to run foreign currency exchange business from Reserve Bank of India (RBI) but not for collecting and depositing money. Last week, the EOC had registered an offense under criminal breach of trust, criminal conspiracy and cheating against Nilesh and directors of Kamakshi Forex for swindling crores of rupees from several depositors.