FIR registered in Kamaxi Forex fraud case

Panaji: The Economic offence cell (EOC) on Friday registered a first information report (FIR) against owner and director of companies of Kamaxi Forex Private Limited, Nilesh Raikar, in connection with the alleged duping of 171 persons to the tune of around 6 crore.
Speaking to TOI, EOC police inspector Shivram Vaigankar, said the cell has asked the Margao police to arrest Raikar if he is traced in the commercial capital."After the FIR was lodged, the EOC team went in search for Raikar, but he was not present at his residence," he said.
The FIR has been registered under Sections 406 (criminal misappropriation of property entrusted to someone), 420 (cheating) and 120-B (criminal conspiracy) of the Indian Penal Code (IPC).
Vaigankar said that on Wednesday, April 13, the EOC received complaints from 30 people, who alleged that they had been duped of 1.8 crore, adding that 6 additional complaints were received on April 14, followed 135 complaints on April 15.
"We have not arrived at the total amount involved in the scam," he said
Complainants alleged that the company convinced them to make deposits with it on the alleged false assurance of hefty returns. The Margao-based company that started in 2004 dealt with foreign currency exchange.
The problem began in February after cheques began to bounce. When customers approached the owner of company, Raikar, he told them that he was going through problems and said he would pay their money next month.
On April 8, when customers saw the Kamaxi Forex Private Limited office closed, they panicked and approached the police. Of those who have filed complaints there are regular as well as new customers.