Mumbai, Mar 9 (PTI) A 34-year-old man has been arrested by the cyber crime department of Mumbai Police for allegedly cheating a senior citizen of Rs 1.12 crore with a promise of high returns on stock market investment.
Bharat Deepak Chavan, the accused, was nabbed from suburban Bandra on Friday and Rs 82 lakh lying in 33 bank accounts were recovered, an official said here.
Chavan had opened multiple bank accounts in which Rs 1.12 crore were received between December 2023 to February this year, he said.
Sandip Deshpande (68), the complainant, told police that he got several WhatsApp messages from different numbers in December, inviting him to join a share trading group.
He joined the group and the accused told him that a trading account had been opened in his name. Deshpande deposited money as asked, and he was shown that he was earning good returns.
But when he asked for his money back, the accused said he had to pay tax in advance.
Thinking that something was fishy, Deshpande approached police.
Chavan was tracked down with the help of technical evidence and booked under Indian Penal Code sections including 420 (cheating) and provisions of the Information Technology Act. Further investigation was underway, the official added. PTI ZA KRK
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