Mumbai: The Mumbai police have arrested a man for allegedly cheating a couple of Rs 72 lakh in a forex trading fraud, officials said.
A search was underway for two other accused individuals -- a man and his son -- in the case, they said.
About The Case
The victims in their police complaint said they got in touch with the accused three years back.
The three accused told the couple, residents of Borivali in Mumbai, that they were major investors and ran a successful forex trading business. They claimed that many people had invested with them and earned significant returns, an official from Kasturba Marg police station said on Tuesday.
Trusting their assurances, the couple invested Rs 72.5 lakh in instalments between April and August 2022.
Initially, the accused paid them some amount, but later stopped making payments. When questioned, they promised to repay the principal amount along with returns. But the cheques they issued bounced, and the accused stopped answering calls, the official said.
Following this, the victims filed a police complaint, based on which a case had been registered against the accused for criminal breach of trust, cheating, and other relevant charges.
The three accused went absconding soon after the case was registered, the official said.
The police managed to arrest one of the accused, Rajendra Nerlikar, on December 6 after tracking him for nearly two years, he said.
During interrogation, he confessed to luring several people in Mumbai and Kolhapur into forex trading investments and cheating them, the official said.
Search was on for the two other co-accused, hailing from Kolhapur, the police added.
(Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
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