The scammers innovate different ways to cheat the innocent people and our honest Goans always fell into the trap. This time it is the Basmati Rice Scam that duped around dozen of Goans to the tune of several crores of rupees. Read the complete report here…
Basmati rice trading scam to the tune of nearly Rs 5 crore that recently came to light Margao. The accused, Azim Khan, who was arrested, would pose as a trader of basmati rice and seek investments from prospective partners. Several businessmen have been cheated by this ‘Basmati’ conman
Posing as a trader of basmati rice, Azim Khan, a resident of Gogol, Margao, would seek investments from prospective partners in the trade by promising them a 50% share in the profits. In doing so he duped several businessmen to the tune of around Rs 5 crore after promising them huge returns on their investments in the dubious ‘Basmati rice trading business’.
Acting on the complaint of Gulshar Ahmed a resident of Navelim, Margao, police arrested Azim Khan under Sections 406 9criminal breach of trust) and 420 (cheating) of the Indian Penal Code on May 17, 2019. Khan had been remanded to seven-day police custody, but as more victims have been identified, his custody has been extended for another seven days.
A Times of India report indicates that police sources informed them that Khan would pose as a trader of basmati rice and seek investments from business partners, promising them huge investments to the extent of 50% in return.
This source further indicates that complainant Ahmed has revealed that Khan duped him, his brother and uncle to the tune of Rs. 2.2 crore. While Ahmed claimed that he parted with Rs 76 lakh as his investment, his uncle invested Rs 1.2 crore and his brother Rs 32 lakh. In the process of investigation, police have discovered that Khan has duped at least 12 businessmen in a similar manner.
In their report on May 20, 2019, Times of India stated that further investigations by the police revealed that besides Ahmed, at least 10 more wealthy businessmen, who invested heavily in the dubious ‘Basmati rice trading’ enterprise were also duped by the conman.
However, police sources also revealed that the victims are reluctant to lodge a complaint fearing action by the income tax authorities. While Ahmed and his kin transacted with Khan through net banking mode and cheques, sources say other victims may have made cash payments.
According to further report Times of India report on May 21, 2019, it was revealed that some more victims of this scam were identified. Police sources informed that statements of all 12 victims, including those of complainant Gulshar Ahmed, his brother and uncle have been recorded so far.
The trail of the investigation, according to police sources, as reported In the Times of India revealed that the scam could be to the tune of around Rs 5 crores so far.
IMAGE SOURCE: HINDUSTANT TIMES
