Financial frauds and cheating cases are on a rise in the state as there is not much remedy from the side of lawmakers and the accused is aware that he or she can easily get away with it. Just like cybercrime, the financial crimes cases end up not getting solved and due to this many big time, guys have looted hundreds of Banks in India. Coming back to the case of Goa, Rs 43 lakhs have been extracted by the accused from the complainant with the assurance of showing a rosy picture to the NRI Goan.
NRIs have a lot of money and they normally look out for investment opportunities back in their motherland since there are better returns in our country compared to foreign countries but this gives an opportunity to the fraudsters to take advantage of this situation.
According to reports published by the local daily The Goan in case of the breach of trust filed by the Goan NRI, Goa Police have booked a local resident of Mapusa for cheating and dishonestly inducing a Goan-based NRI to the tune of Rs 43 lakh. An FIR has been registered against alleged accused, Arnaldo Braganza, a resident of Feira Alta, Mapusa for cheating and criminal breach of trust.
The Mapusa police revealed that accused Braganza dishonestly induced the NRI Goan to invest his hard earned money in a bogus policy scheme of a Private Life Insurance Company promising him very attractive returns on his investments.
“The NRI trusted the accused and paid an installment of Rs 10 lakh as the first premium but since the NRI was staying in Australia and having an NRE account in a nationalized bank in Assonora, he handed over some blank signed cheques to the accused to pay the remaining four annual premiums,” said the sources.
The sources revealed that accused paid the initial installments of the policy with the money given by the complainant but later on he started withdrawing money from complainants account and not depositing the same into the premium into the complainant’s account.
“The alleged accused failed to pay the remaining premiums and instead withdrew cash from the NRI’s bank account and cheated him of Rs 43 lakh thereby committing criminal breach of trust,” said the police official.
In his complaint to the police, the NRI Jose D’Souza said that the alleged accused, Arnaldo Braganza approached him as the advisor of a private insurance company and asked him to invest in an insurance policy for five years.
The complainant paid the first premium of Rs 10 lakh and handed over various blank signed cheques to Braganza and entrusted him to deal with an amount of Rs 80 lakh from the complainant’s NRE account in a nationalized bank in Assonora. The two had also executed a written agreement on how Braganza would deal with the amount/cheques.
As per the agreement, Braganza was supposed to make payment of Rs 40 lakh as the premium for the insurance policy for the remaining four years and the remaining amount was to be paid as a donation to a religious institute.
The complainant said Braganza made payments to the religious institute but failed to utilize Rs 43 lakh as per their agreement and therefore cheated him. “It is clear Braganza has diverted the amount of Rs 43 lakh after practicing inducement and fraud upon me to his own use and embezzled the same,” the complainant said.
An offense under section 406 (criminal breach of trust) and 420 (cheating and dishonestly inducing a person) of the IPC has been registered against the alleged accused.
Mapusa Police is investigating further.