Daijiworld Media Network – Mangaluru

Mangaluru, Oct 21: In a major breakthrough, Mulki police have arrested a couple accused of cheating several residents of Kinnigoli and nearby areas through fraudulent investment schemes involving nearly Rs 1.5 crore in cash and gold.

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 large sums of money and gold with the assurance of quick and significant profits. However, after collecting the funds, they failed to return the money or provide any returns as promised. Two criminal cases had earlier been registered against the couple at Mulki police station under Sections 406 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code (IPC).

Richard D’Souza

To evade arrest, the couple reportedly fled to Mumbai and had been in hiding for over a year. Acting on reliable information, Mulki police launched a targeted operation and successfully arrested the duo. They were later produced before the jurisdictional court, which remanded Richard D’Souza to judicial custody. Further investigation into the financial trail is underway.

Police have urged the public to remain vigilant and not fall for schemes promising unusually high or quick returns. Citizens are advised to verify the authenticity of any investment plan and consult certified financial institutions before parting with their savings or valuables. Authorities have also appealed to anyone who may have been defrauded by the accused to come forward and file a complaint.