Panaji, Apr 19 (TOI): The economic offences cell (EOC) of the Goa police, on Monday, issued a lookout notice against the owner of Kamaxi Forex Private Limited Nilesh Janardan Raikar, in connection with the alleged case of duping 171 persons of 10 crore.

"We have received around 250 complaints and more are likely to come," EOC PI Shivram Vaigankar told TOI. He added that if any individual has any information regarding the accused, he/she should intimate the DySP, PI (EOC) and police control room, Panaji.

The EOC, on Friday, registered a first information report (FIR) against Raikar in connection with the alleged scam under IPC Sections 406 (criminal misappropriation of property entrusted to someone), 420 (cheating) and 120-B (criminal conspiracy).

A team of EOC officials also visited the accused's house on Monday, but found he was unavailable. Vaigankar said that on Wednesday, April 13, 30 persons complained that they had been duped to the tune of 1.8 crore by Kamaxi Forex Private Limited. Six more complaints were received the following day. As many as 250 complaints have been lodged till now.

Complainants alleged that Kamaxi Forex's staff convinced them to make deposits with the company with the alleged false assurance of hefty returns. The Margao-based firm began operations in the year 2004.