Raikar gets 6-day remand

Margao: A local court at Margao remanded Nilesh Raikar, director of Kamakshi Forex Pvt Ltd, who was arrested in connection with the alleged duping of around 420 persons for 28 crore, to six days in police custody.

Judicial magistrate first class (JMFC) judge Ashwini Khandolkar passed the order after police produced him before the court.

Stating that further investigations are in progress, economic offence cell PI Shivram Vaigankar told STOI that presently the police were interrogating the other two suspects in this case - Nilesh's mother Rekha and wife Neelima. "We are also verifying his accounts and conducting an estimate of his assets," stated Vaigankar.

The EOC police have already frozen 35 bank accounts belonging to Nilesh and his firm, and sealed six shops and six flats belonging to the accused, which are situated in Margao, Panaji and Calangute.

Police suspect that Nilesh invested his clients' money in firms involved in stock trading.

A large crowd of duped investors, who gathered outside the court on Saturday afternoon, proceeded towards the office of Nilesh's advocate Rajeev Gomes at Comba-Margao in an effort to convince the lawyer not to represent the accused.

Gomes assured the investors that he would not file a bail application for his client, nor would he interfere in the ongoing police investigations. tnn