Margao: The Fatorda police on Tuesday arrested Jalees Jailani of Chandrawado, Fatorda, for allegedly cheating several people of lakhs of rupees, after luring them to invest in his fraudulent company.
Fatorda police said that Jailani, along with four others, opened a bank account in the name of a security advisory and induced many people to deposit large sums. The accused also opened the main branch of their firm next to the Mathany Saldanha Administrative Complex at Margao.
On October 3, Ibrahim Baig of Borda, Margao, lodged a complaint stating that on April 7, 2018, the accused persons Jalees Jailani and Javed Shaikh formed a company and induced the complainant to deposit an amount of Rs 5,00,000 in their bank account with the assurance that they will provide them higher returns.
