NT Reporter
Panaji
The Economic Offence Cell (EOC) of the Goa police has arrested Shivaji Walke (48), the alleged mastermind in a Rs 2.9 crore investment fraud case.
Earlier, the EOC had arrested four agents — Subhash Bhaskar Dhuri, Digamber N Bhatt, Sarika Dinanath Pilankar and Soma Govind Gaonkar — in connection with the case. They are currently in judicial custody.
Police said Walke, a native of Mumbai, Maharashtra, is a chartered accountant and director of Bio Estate Solutions Pvt Ltd. He was traced using technical and human intelligence, apprehended in Borivali, Mumbai, and brought to Goa. He has been remanded to 14 days of police custody.
Referring to the fraud, police said investors were allegedly cheated of Rs 2.9 crore on the pretext of high returns on investments in land purchases, a pension scheme and cryptocurrency ventures. An FIR was registered in June 2025 against Bio Estate Solutions Pvt Ltd and its directors following a complaint filed by Venon Dias of Santo Estevam, Tiswadi. Police said the company’s head office was located in Mumbai, while its branch operated from Mapusa. According to police, the accused ran the Mapusa office without valid permission from the concerned authority and entered into a criminal conspiracy to induce the complainant and other investors to invest.
Police said the accused promised high returns under four verticals — purchase of land at Torxem, Pernem, a pension scheme under Bio Estate, Biokkoin under Bio Estate (cryptocurrency) and CoW Coin as part of Cinema on Web (cryptocurrency).
However, the accused failed to repay the promised returns or maturity amounts, thereby cheating the complainant and other investors.
