13 July,2024 05:54 PM IST | Mumbai | mid-day online correspondent
The recovered property. Pic/Mumbai Police sources
A 44-year-old man was arrested by Mumbai Crime Branch for allegedly defrauding several hundred persons on the pretext of high returns from share market investments, an official said on Saturday, reported the PTI.
According to the PTI, Ashish Shah was held from neighbouring Madhya Pradesh by the Crime Branch's property cell after a case of cheating and other offences was registered in Versova police station in the western suburbs of Mumbai, he said.
"Our probe has found he has cheated 400-500 persons with this modus operandi. The victims are from Mumbai, Mira Bhayander in Thane district as well as Tamil Nadu. The amount involved could run into crores. We recovered 1,900 grams of gold and Rs 25 lakh cash from Shah," the official said, as per the PTI.
Further probe is underway into the extent of cheating, the official added.
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Navi Mumbai police nab man for duping investor of Rs 1.23 crore
The Navi Mumbai Police in Maharashtra have arrested a man from Dubai who allegedly cheated a person of Rs 1.23 crore by luring him to invest in share trading, an official said on Saturday, reported the PTI.
The Cyber Crime Unit of the Navi Mumbai Police had issued a lookout notice for the accused, and he was apprehended at Surat Airport on June 26 when he arrived from Dubai, the official said.
The accused, Kaushikkumar Kalyanbhai Italia (34), had lured the complainant to invest in share trading and allegedly duped him of Rs 1.23 crore in August last year, senior inspector Gajanan Kadam said.
According to the PTI, a case was registered, and during the probe, the police found that Italia, who hailed from Surat in neighbouring Gujarat, operated out of Dubai, he said.
The accused has seven cases to his name in Pune and Navi Mumbai, and offences were registered against him at 60 police stations in Mumbai, Kerala, West Bengal etc, the official said, the news agency reported on Saturday.
The police have frozen more than Rs 43 lakh in different bank accounts of the accused, he said, adding that further probe is underway.
(with PTI inputs)
