Man dupes Andheri couple of ` 2.48 cr in wealth management fraud

MUMBAI: An Andheri couple was duped of Rs 2.48 crore on the pretext of investing in a wealth insurance company in December last year. Police said that the well-to-do couple had invested Rs 3.55 crore in the wealth insurance company, of which Rs 1.06 crore was returned to them as a return on investment.

The accused have been booked under relevant sections of the Indian Penal Code for cheating and no arrests have been made. With a slew of investment options and opportunities available in the market, the accused person, whose name has been withheld on request, had approached the complainant to insure their wealth and invest in a wealth management system, which could give them good returns. -