Team Goemkarponn
PANAJI: Goa Cyber Crime Police have arrested a 30-year-old man from Telangana in connection with an alleged online investment fraud amounting to ₹95.31 lakh. Police have also managed to restore ₹21 lakh to the victim so far.
The accused has been identified as Kota Venumadav, 30, a resident of Telangana. He was arrested in connection with a Cyber Crime Police Station FIR registered on October 30, 2026.
According to the complaint, the victim was allegedly lured through an online advertisement and subsequently contacted through phone calls and messages, persuading him to invest through a purported investment platform. The complainant allegedly transferred a total of ₹95,31,177.93 to multiple bank accounts through several transactions.
SP Cyber Crime Jivba Dalvi said that a dedicated police team led by Inspector Sujay Korgaonkar was dispatched to Hyderabad, where the accused was arrested. He was subsequently brought to Goa on a transit warrant and placed under arrest in the case.
Police have so far restored ₹21 lakh to the victim through their efforts.
The case has been registered under Sections 318(4) and 319(2), read with Section 3(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 66-D of the Information Technology Act, 2000.
SP Jivba Dalvi cautioned the public against online investment schemes promising easy, unusually high or guaranteed returns. He advised investors to verify investment platforms and intermediaries through official sources and ensure that they are authorised by the relevant regulatory authorities.
He also urged people to follow RBI advisories while undertaking forex transactions and avoid transferring money based on unsolicited calls, advertisements or messages promising quick profits. Suspected cyber financial frauds should be reported promptly to the police.
The investigation is being conducted under the overall supervision of DIG Goa Ved Prakash Surya, IPS, and SP Cyber Crime Jivba Dalvi, GPS, with ASP Cyber Crime Shridevi B.V., IPS, PI Cyber Crime Deepak Pednekar and LPI Cyber Crime Anushka PaiBir involved in the investigation.
