E-Paper
Chandigarh: 76-year-old man loses ₹1.59 crore to fraudster
The accused had introduced himself as a bank employee and convinced the victim to invest his money in a new scheme of the central government which promised higher returns
An elderly man lost ₹1.59 crore to a fraudster who lured him into investing his money in exchange for higher returns.
A resident of Sector 34, Sadhu Singh, 76, told the police that a person identifying himself as Ravi Mishra had contacted him in 2014.
Mishra had introduced himself as an employee of the money disbursal department of a bank and told Sadhu that one of his insurance policies was maturing and he could help him in getting the amount.
He managed to convince Sadhu to invest his money in a new scheme of the central government which promised higher returns. Sadhu told the police that he deposited money into various bank accounts in the name of companies over years.
Mishra later asked Sadhu to deposit more funds into the bank accounts of certain individuals, who he claimed were the bank employees responsible for his investment.
After Sandhu realised that he had been duped, he contacted the police.
An FIR under sections 419, 420 and 120B of the IPC has been registered at the Sector-34 police station.
