Telangana Man Arrested in ₹95.31 Lakh Online Investment Fraud; ₹21 Lakh Recovered for Victim

Panaji, November 6, 2026: The Cyber Crime Police Station, North Goa, has arrested a 30-year-old man from Telangana in connection with an alleged online investment fraud amounting to ₹95.31 lakh. The police have also managed to restore ₹21 lakh to the victim as part of the investigation.

The accused, identified as Kota Venumadav, was arrested in connection with FIR No. 101/2026, registered on October 30, 2026. According to the complaint, the victim was lured into investing money through an online advertisement, followed by phone calls and messages promoting a purported investment platform. Believing the investment opportunity to be genuine, the complainant allegedly transferred a total of ₹95,31,177.93 through multiple transactions into various bank accounts.

Providing details of the operation, SP Cyber Crime Jivba Dalvi, GPS, said that a dedicated police team led by Inspector Sujay Korgaonkar was sent to Hyderabad, Telangana, to trace and apprehend the accused. Following his arrest, Venumadav was brought to Goa on a transit warrant and has been placed under arrest in connection with the case.

The Cyber Crime Police have so far succeeded in restoring ₹21,00,000 to the victim. The investigation is underway to establish the complete circumstances of the alleged fraud and examine the financial transactions involved.

The case has been registered under Sections 318(4) and 319(2), read with Section 3(5), of the Bharatiya Nyaya Sanhita, 2023, along with Section 66-D of the Information Technology Act, 2000.

Issuing a public advisory, SP Jivba Dalvi urged citizens to exercise caution while dealing with online investment opportunities, particularly those promising guaranteed, unusually high or easy returns. He advised investors to independently verify investment platforms and intermediaries through official sources and ensure that they are authorised by the relevant regulatory authorities. He also cautioned the public to follow RBI advisories concerning forex transactions and avoid transferring money based on unsolicited calls, advertisements or messages offering quick profits.

Dalvi further urged citizens to promptly report suspected cyber financial frauds to the police to enable timely intervention and action.

The investigation is being conducted under the overall supervision of DIG Goa Ved Prakash Surya, IPS, and SP Cyber Crime Jivba Dalvi, GPS. The team also includes ASP Cyber Crime Shridevi B.V., IPS, PI Cyber Crime Deepak Pednekar and LPI Cyber Crime Anushka PaiBir.