In a significant breakthrough, the Cyber Crime Police Station, Goa, has arrested an accused involved in a major online investment and trading fraud amounting to ₹4,23,94,163. The case was registered on 18 May 2026 under Crime No. 59/2026 based on a complaint lodged by a resident of Corlim, Tiswadi, Goa. Relevant provisions of the Bharatiya Nyaya Sanhita (BNS) 2023 and the Information Technology Act have been invoked in the case.
According to the complaint, the victim was contacted by individuals posing as representatives of a trading platform called “Citadel Security.” The fraudsters allegedly introduced the complainant to a fake investment application bearing the same name and lured him with promises of exceptionally high returns through IPO investments and share market trading activities. Trusting the representations made by the accused, the complainant transferred a total amount of ₹4.23 crore through multiple transactions.
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Following an extensive technical and financial investigation, Cyber Crime Police traced one of the key suspects to Kozhikode, Kerala. A police team comprising PSI Navin Naik, PC Yash Kole, and PC Sidramayya Math successfully apprehended Rejas Ali P.P. from Kozhikode.
Investigation revealed that approximately ₹27 lakh of the defrauded amount had been credited to the accused’s bank account at the first layer of the financial transaction chain. Further analysis showed that the funds were subsequently transferred to multiple accounts linked to associates. The investigation also established that the same bank account had surfaced in two other cyber fraud cases registered in Karnataka and Uttar Pradesh, involving a cumulative fraud amount of approximately ₹4.21 crore.
The accused has been produced before the competent court and remanded to police custody. Further investigation is underway to identify additional beneficiaries, trace the flow of funds, and uncover the wider network involved in the fraud.
The investigation is being conducted by PI Deepak Pednekar under the supervision of B.V. Sridevi, ASP, and the overall supervision of Raju Raut Desai, Superintendent of Police, Cyber Crime, Goa.
Goa Police once again urges citizens to exercise caution while investing through online trading platforms and to verify the authenticity of investment schemes before transferring funds.
