PANJIM: The Economic Offences Cell (EOC) on Tuesday apprehended Muneed Madhuwani, Lambaji Lamani and Swezel Fernandes for allegedly duping around 2,500 investors to a tune of Rs 9.33 crore under the banner of Rangeeta Enterprises.
Nidhin Valsan, SP Crime Branch informed that an offence has been registered against the accused under Sections 406, 409, 420, 120 B of Indian Penal Code (IPC) and Sections 3 and 5 of Goa Protection of Interests of Depositors in Financial Establishments Act, 1999 and Section 4 and5 of prize chits and money circulated schemes (Banning) Act, 1978.
The SP said the investigation was done under the team headed by PI Razashad Shaikh. The accused will be soon produced before the High Court, the SP added.
The EOC had recently arrested one Jaikumar Goyal in this regard and was placed in police custody for 10 days. The Court on Tuesday further extended his police custody by four days.
