Team Goemkarponn
PANAJI: The Cyber Crime Police Station, Goa, has arrested a 39-year-old man from Ahmedabad in connection with a cryptocurrency trading fraud amounting to over Rs. 2.63 crore, marking a major breakthrough in one of the state’s biggest cyber fraud cases this year.
The arrest follows a complaint filed by a resident of Tivim, Bardez, who was duped between February 13 and March 19, 2025, after being contacted by a woman identifying herself as “Aliza.” She lured the complainant into a bogus cryptocurrency and commodities trading scheme with promises of expert training and high returns.
Induced by these false claims, the complainant made multiple bank transactions totaling Rs. 2,63,30,000.
Upon investigation and in-depth financial analysis, the police traced part of the fraudulent transactions and identified Ramesh Kumar Yadav a resident of Amraiwadi, Ahmedabad, as a key suspect.
He was arrested by a Cyber Crime team led by PSI Sarvesh Sawant, under the supervision of PI Deepak Pednekar and SP Rahul Gupta, IPS.
Police say Yadav was managing mule bank accounts used to route Rs. 10 lakh from the defrauded amount. Officials suspect he is part of a wider network of cybercriminals operating financial scams across India.
The accused is currently in police custody, and further investigations are underway to trace other accomplices and recover the stolen funds.
“This arrest is a critical step in dismantling cyber fraud operations that exploit the rising interest in digital currency,” SP Rahul Gupta said in an official statement.
