Man held from Gujarat for cheating Mumbai trader

Nirmal Nagar police in Bandra (East) arrested a 34-year-old man from Surat on Thursday for allegedly cheating a 49-year-old share trader of ₹2.70 lakh by luring him to invest in forex trading last month.

The accused contacted the complainant by a text message and the transactions took place through national electronic funds transfer (NEFT). A police officer said, “The accused had received the money in his own bank account and had no intent to cheat the complainant. But the firm he had invested in incurred heavy losses.”