Man from Thane district loses Rs 25.5 lakh to investment fraud

Saurabh Mukherjea, persuaded him to join an investment group.Between December 26 last year and January 17, Muglikar invested Rs 25.5 lakh on shares in India and America after he was made to believe that he would be paid high returns, the official said citing the complaint.

A 50-year-old man from Maharashtra's Thane lost Rs 25.5 lakh after he was allegedly lured with high returns on some investments, an official said on Saturday. Complainant Vijay Muglikar, who works as a medical officer in a Thane hospital, said the accused, who identified himself as Prof. Saurabh Mukherjea, persuaded him to join an investment group.

Between December 26 last year and January 17, Muglikar invested Rs 25.5 lakh on shares in India and America after he was made to believe that he would be paid high returns, the official said citing the complaint. Muglikar told the police that he did not get any money in return. He realised he had been duped after the accused gave evasive replies. On his complaint, the Wagle Estate police registered a cheating case against Mukherjea and an entity named Bellida, he said.