Team Herald

PANJIM: Economic Offences Cell (EOC) of Goa Police arrested Subhash Govind Patil of Sangolda and native of Kolhapur for duping Goan investors to the tune Rs 5.10 crore. He is one of the directors of the Across the Globe Hospitality Limited Company and FXP Fincon Pvt Ltd against which an offence was registered at EOC.

EOC officials said that all the directors lured common people and accepted investments from them promising high returns. The directors of the company allegedly duped investors by misappropriating their funds and thereby cheated the investors/depositors to the tune of approximately Rs 5.10 crore, an EOC officer said.

During the course of investigation the role of Nitin Rajaram Bandodkar (40), Delcy Joseph Borges (30), Canute D’Souza (49) was also established and they had been arrested earlier by EOC. Bandodkar and Borges are presently in judicial custody, while D’Souza is still in police custody.

Prime accused Patil (38), has been evading arrest since the registration of the offence while the EOC team has been on a lookout for him since then.

The investigating officer received a tip off that Patil was in Calangute, upon which a team headed by PSI Prasana Bhagat managed to nab the accused in Calangute and he was thereafter placed under arrest. The Court has granted police seven days custody of the accused.

Police said Patil has been involved in similar crimes in several parts of Maharashtra and Rajasthan. Details of his criminal involvement are being investigated.

All the accused have been booked under Section 406, 420, 120B of IPC and Section 3 & 5 of Goa Protection of Interest of Depositors (In financial establishments) Act, I999 (GPID).