Team Herald

PANJIM: The Economic Offences Cell (EOC) has registered criminal charges against two unauthorised companies and six officials for duping several investors to the tune of Rs 5.1 crore. 

Charges of criminal conspiracy were booked against officials of two investment firms located at Alto Pilerne and at Porvorim. Subhash Govind Patil (Kolhapur), Canute D’Souza (Vagator), Nitin Rajaram Bandodkar (Dhargal), Delcy (Aquem), Maria Eugenia Dhaujekar (Calangute) and Digambar Sangodkar (Mapusa) have been named in the FIR.

They are accused of hatching a criminal conspiracy and inducing investors and depositors to invest in their companies with the promise of 5 percent monetary returns per month on the invested amount. EOC officials said that accused allegedly misappropriated the funds.

 and failed to repay the promised returns.

Both companies allegedly do not have permission from RBI and Securities and Exchange Board of India for accepting deposits and investments. EOC is in search of more persons involved in the racket and are also investigating if more firms are involved in a similar racket.