Retired financial professional duped of Rs 2 crore in stock market fraud in Mumbai

The Mumbai crime branch’s cyber police have arrested a 51-year-old painter from Ghatkopar for his alleged role in duping a 71-year-old retired financial professional of nearly Rs 2 crore under the pretext of earning high returns by investing in the stock market.

The police said the fraudsters had even created an application similar to a well-known investment company to lure people into investing. According to the police, the victim invested money between January 8 and March 7 this year.