The Mumbai police have arrested a former executive of a multinational bank for allegedly siphoning off Rs 9.4 crore from an 85-year-old customer's account by luring him to invest in stocks, an official said on Monday.
Ravi Sharma (40), a former senior relationship manager, was arrested on Saturday, an official from Gamdevi police station said.
Ravi Sharma was tasked with guiding senior citizens about investments, he said.
The accused allegedly duped the complainant's father by convincing him to invest in stocks and siphoned off Rs 9.4 crore from his bank account between 2019 and 2023, the official said.
Ravi Sharma took the victim's signatures on forms and cheques and even got the cellphone numbers registered with the bank changed, he said.
The fraud came to light earlier this month after the complainant visited the bank to withdraw some money, the official said.
A case under section 420 (cheating) and other relevant provisions of the Indian Penal Code (IPC) has been registered against the accused.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Justin Trudeau-Led Canada Government's Cabinet Reshuffle- Who's In, Who's Out?
Man Who Allegedly Threatened To Kill PM Modi Arrested From Rajasthan Drunk Driver Rams Police Barricades, Vehicles To Escape Checking In Mumbai Mumbai Cyber Police Arrests 8 For Illegal SIM Porting Without KYC Documents Is Safe Car Enough? Volvo Crash That Killed CEO, Family Sparks Big Question "Nothing Short Of Nightmare": Woman Misses Life Event, Slams Air India Snack Food Epigamia Founder Rohan Mirchandani Dies Of Cardiac Arrest At 41 National Aviation University Hiring Faculty, Salary Up To Rs 2.18 Lakh Man Runs Tractor Over Brother In Karnataka, Then Surrenders To Cops Shield Constitutional Bodies From Political Influence: Top Court Judge Track Latest News Live on NDTV.com and get news updates from India and around the world.