The Crime Branch has arrested a couple originally from Mumbai, Akshay Sawant (34) and Pallavi Ghadge (33), for allegedly defrauding several Goans, including jewellers, of over Rs. 5.7 crore. The couple is accused of misleading investors by promising profitable returns from the gold trade and offering gold at lower rates.

According to police, the couple initially sold gold coins below the market rate to gain the trust of investors. When victims sought to invest more, Sawant and Ghadge demanded full advance payments, promising returns in the form of gold or profit from the gold trade. However, Sawant failed to return the gold coins or profits, thereby cheating the complainants and investors.