Team Herald
MARGAO: Two alleged accused arrested by Economic Offences Cell (EOC) for allegedly duping around 2,500 investors to a tune of Rs 9.33 crore under the banner of Rangeeta Enterprises were produced before the Principal District and Sessions Judge South Goa and seven days police custody remand has been taken.
Meanwhile two of them namely Lambaji Lamani and Swezel Fernandes who are in police custody on remand have moved bail application before above court and matter is posted for arguments on August 3 .
Police said 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 investigation was done under the team headed by Police Inspector Razashad Shaikh.
