Insurance executive defrauded of Rs 34 lakh in Mumbai

Mumbai police have filed a case against five individuals for defrauding an insurance executive of Rs 34 lakh in a cryptocurrency investment scam. The victim, 50, was lured by promises of high returns. The complainant initially invested Rs 2.46 lakh in December 2021 after being persuaded by an insurance agent and his associate. He received some returns but later invested more, totaling Rs 34 lakh, to cover his father's medical expenses. After not receiving promised returns and following his father's death, the victim reported the fraud to the police. Investigations are ongoing.