Team Herald
MARGAO: The embattled Margao Municipal Council (MMC) clerk, Yogesh Shetkar, faces yet another complaint of financial fraud. Arjun Sutar, a resident of Bambolim, has accused Shetkar of cheating him of Rs 1.05 lakh, alleging that the clerk lured him into an investment scheme promising daily returns and full repayment of the principal after a year. Despite multiple assurances, Shetkar failed to honour his commitments, leading Sutar to lodge a formal complaint with the Margao police.
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According to Sutar, the investment was facilitated by an advertisement in 2022, which promoted an enticing scheme managed by Shetkar under the banner of his company, Devrichtechnotics Future World Pvt. Ltd. Sutar claims to have transferred Rs 75,000 and Rs 30,000 on separate occasions via bank transactions, receiving a receipt for only Rs 1 lakh. An agreement, notarised in June 2022, outlined the scheme’s terms, but two-and-a- half years later, neither the promised daily returns, nor the principal amount have been returned. The complaint also includes supporting evidence such as bank statements, the receipt, and the notarised agreement.
The case has sparked widespread outrage, with citizen groups demanding stringent action. Activist Savio Coutinho revealed that Shetkar’s fraudulent activities extend beyond his municipal role, accusing him of running a finance company with schemes targeting unsuspecting investors. Coutinho provided documents allegedly linking Shetkar to these operations and criticized what he called the superficial nature of the ongoing investigations.
“The authorities must not only recover the stolen funds but also probe Shetkar’s financial ventures and any potential political backing shielding him from accountability,” Coutinho asserted during a recent press conference. He also highlighted the involvement of additional officials in the municipal scam, urging their immediate arrest. The Green Goa Foundation (GGF) has similarly called for a comprehensive investigation, warning that it will seek legal intervention if the authorities fail to act.
With the latest complaint by Sutar adding another layer to the controversy, the Margao police are expected to seek an extension of Shetkar’s custody as they work to piece together the full extent of his alleged crimes.
