Mangaluru: In a major breakthrough, the Mulki police have arrested a couple accused of cheating multiple residents of Kinnigoli and nearby areas through fraudulent investment schemes involving nearly ₹1.5 crore in cash and gold.
Couple lured victims with fake investment promises
The arrested have been identified as Richard D’Souza (52) and Rashmi Rita Pinto (47), both residents of Kavattaru village near Kinnigoli on the outskirts of Mangaluru.
According to police investigations, the duo lured people with promises of high returns on investments, convincing them to deposit substantial sums of money and gold with the assurance of quick and guaranteed profits. However, after collecting the funds, they failed to return the money or deliver any returns as promised.
Two criminal cases had previously been registered against the couple at the Mulki police station under Sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code (IPC).
Arrest after year-long search
To evade arrest, the couple had reportedly fled to Mumbai and remained in hiding for over a year. Acting on credible information, Mulki police launched a targeted operation and successfully apprehended the duo.
They were later produced before the jurisdictional court, where Richard D’Souza was remanded to judicial custody. Police sources said that a financial trail investigation is underway to trace the flow of money and recover defrauded assets.
Police caution public against investment frauds
Police have urged citizens to remain vigilant against fraudulent schemes promising unrealistic or quick profits. Officials have advised the public to verify the legitimacy of investment plans and consult only registered financial institutions before investing their savings or valuables.
Authorities have also appealed to anyone who may have been defrauded by the accused to come forward and lodge a complaint at the nearest police station.
The investigation team, led by officers from the Mulki Police Station, continues to gather evidence and identify other possible victims linked to the couple’s network.