Goa newspaper’s editor, wife arrested for cheating investors

September 6th, 2012 - 11:05 pm ICT by IANS  

Panaji, Sep 6 (IANS) The Goa Police Thursday arrested a newspaper editor of a free-sheeter newspaper and his wife for duping investors of Rs.25 crore by promising to multiply their money through investments in film production.

Superintedent of Police Vijay Singh told a press conference here that Satyajeet Kulkarni, editor of a free-sheeter newspaper ‘The Goa News’ and his wife Vrushali, had been arrested in Jaipur.

“They had cheated investors to the tune of Rs.25 crore. Their modus operandi was to ask people to invest money and promise them a return of 15 percent over two years. They would tell them that the invested money would be parked in film production businesses,” he said.

Singh said that Kulkarni and his wife had duped nearly 2,000 investors over two years, since they were operating in Goa.

“Ten complaints have been registered with the police in Goa. But our interrogation of the couple has revealed that nearly 2,000 persons have been duped here by the duo,” he said.

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