Team Goemkarponn
PANAJI: The Cyber Crime Police Station in Goa has arrested a 63-year-old man from Shivamogga, Karnataka, in connection with a significant cyber fraud case involving an amount of ₹1.02 Crore.
The arrest comes after a detailed investigation into the fraudulent activities of an online trading scheme that lured victims with promises of high returns.
The accused, identified as K. Krishna Murthy, was arrested after an extensive probe revealed that he had been involved in deceiving a victim from Old Goa into investing large sums of money in a bogus trading platform called ‘ASK Smart Prospect Y5.
The scheme promised lucrative returns but turned out to be a scam. The victim was manipulated into transferring ₹1,02,42,325/- to various bank accounts operated by the accused and his associates.
The complaint was lodged on 20th May 2025, leading to the registration of a case under Crime No. 14/2025 at the Cyber Crime Police Station. The charges against the accused include Section 318(4), 319(2) r/w 3(5) of BNS and Section 66-D of the Information Technology Act, relating to cyber fraud and online deception.
Acting on crucial leads and financial data analysis, the Cyber Crime Police traced the suspect to Shivamogga, Karnataka. A team led by LPSI Yashica Sancoalkaralong with PC Sidramayya Math and PC Ibrahim Karol, under the direct supervision of PI Deepak Pednekar and SP Rahul Gupta, IPS, apprehended Murthy.
During interrogation, it was revealed that Murthy had received a part of the stolen money – ₹5,00,000 – into his personal bank account, which he subsequently transferred to various associates.
Authorities also discovered that Murthy had opened a current account under the name “Bappa Machine Pvt. Ltd.”, a firm linked to five other cyber fraud cases across three states,amounting to a total of ₹6.5 Crores.
In a statement, SP Rahul Gupta, IPS, confirmed that the accused is currently in police custody for further questioning. Investigations are ongoing to identify more members of the criminal network and unravel the full scope of the fraud.
The police have urged individuals to be cautious of online trading schemes that promise unrealistic returns and advised the public to report any suspicious online activities to the authorities immediately.
The arrest marks a significant victory in the fight against cybercrime in Goa, as authorities continue to strengthen measures to combat fraud in the digital space.
