The Economic Offences Wing (EOW) of the Cyberabad Police has arrested Nikhil Kumar Goel, the prime accused in a Rs6 crore investment fraud case. He was taken into custody on Wednesday from his residence in Mothinagar, following a thorough investigation into multiple complaints of cheating and breach of trust.
According to officials, Goel had allegedly lured investors with promises of high returns on various investment schemes. However, after collecting large sums of money, he failed to deliver on his promises and eventually disappeared, leaving investors without any returns or refunds.
Police say Goel strategically manipulated investor confidence through verbal assurances and unverified investment proposals. He reportedly diverted funds for personal gain and avoided all communication with victims once the money was collected.
An official from the EOW stated: “We received several complaints regarding financial cheating, and upon tracing the transactions and gathering evidence, we arrested the accused. Further investigation is ongoing to track the flow of funds and identify additional victims.”
Authorities are urging other potential victims to come forward and register formal complaints.
