Goa Man Arrested for Alleged Rs 1.48 Crore Boat Investment Fraud in Mumbai

Sanjay Subhash Naik, a Goa resident, was arrested by Borivali police for allegedly defrauding shipping businessman Tariq Pathan of approximately Rs 1.48 crore. Naik promised investment returns from a passenger boat deal purportedly linked to an Abu Dhabi company but failed to secure the contract or purchase the boat. Pathan incurred additional losses, including a penalty to avoid blacklisting. Police are interrogating Naik and attempting to recover the funds.