Margao (Goa): In a significant breakthrough, the Cybercrime Police have arrested a 65-year-old Mumbai resident, Ronnie Philip Sequeira, for orchestrating a fake investment fraud worth Rs1.5 crore. The case was filed after a victim from Margao, Goa, reported being tricked into making multiple online transactions under the pretext of high-return investments.
According to officials, Sequeira lured the complainant with promises of lucrative online investment schemes. Once the victim transferred substantial amounts, Sequeira began making further demands, falsely claiming that more payments were required to “process the withdrawal” of returns.
The victim approached the police on September 26, following which an FIR was registered under the BNS Act 2023 and IT Act.
A focused investigation led police to Borivali, Mumbai, where Ronnie Sequeira was apprehended. He was found to have received Rs35 lakh in a single bank account, and further scrutiny revealed that both he and his wife are involved in similar financial crimes in two other Indian states.
Sequeira was presented in court and remanded to police custody. Authorities are now expanding the investigation to trace additional victims and identify the extent of financial fraud committed by the couple.
