Mumbai Businessman, 73, Loses Over Rs 3 Crore In Online Fraud: Cops

A garment unit owner has been arrested after a 73-year-old businessman from Mumbai fell prey to an online investment fraud and ended up losing Rs 3.61 crore, police said on Wednesday. The Cyber Police have so far frozen an amount of Rs 2.20 crore and 330 bank accounts, an official said. The alleged transactions took place between May 20 and October 7 last year after the businessman was contacted by three persons, including two women, online who lured him into investing in a scheme by promising hefty returns, the official said.

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