Mumbai: Ex-bank executive held for duping senior citizen of Rs 9.4 cr

NewsDrum Desk
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Mumbai, Feb 12 (PTI) 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.

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.


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. PTI ZA ARU