Bank deputy manager among 3 held for duping man of Rs 20.72 lakh in share market fraud

NEW DELHI: (Aug 31) Three people, including a deputy manager of a private bank, have been arrested for allegedly cheating a man in Delhi of Rs 20.72 lakh through a fake share market investment scheme, officials said on Monday.

The accused allegedly lured the victim with promises of lucrative returns on stock market investments and routed the cheated money through multiple bank accounts, police said.

The bank official is accused of facilitating the use of a bank account for the fraudsters in exchange for a two per cent commission.