A bank relationship manager has been booked for allegedly duping a 79-year-old customer on the pretext of investing his money in the share market and giving returns more than bank rates.
In his police complaint, Duneshchandra Bharwada, a retiree who lives in Borivali West, said that he opened a savings account at Axis Bank's Chamunda Circle branch in 2016. During his bank visits, the senior citizen met Mehta in 2022, who convinced him to invest in the share market through him, promising 10% return, said the complaint.
Bharwada claimed to have transferred Rs 1 crore to the banker's account between November 2022 and November 2023. Initially, Mehta provided returns in cash, totalling up to Rs 22.55 lakh. However, in December 2023, he gave a cheque which bounced. When Bharwada confronted Mehta, he promised to pay in cash but never did, the complaint added.
Eventually, the elderly filed a complaint at the Borivali police station. On August 22, a case was registered against Mehta under sections 406 (breach of trust) and 420 (cheating and dishonesty) of Bharatiya Nyaya Sanhita.
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