Mumbai bank manager cheats senior citizen of ₹75 lakh

A wealth manager from a private bank in Mumbai is accused of cheating a 60-year-old man out of ₹75 lakh. The manager, Jai Mukesh Mehta, promised the man high returns on stock investments but then disappeared. Yogesh Purushottam Kaushal, the victim, had known Mehta for a decade. They developed a close friendship during the time Kaushal worked at a private company. After retiring in October 2024, Kaushal was looking for better investment options and was convinced by Mehta to invest in the stock market. In August 2023, Kaushal sent Mehta ₹30 lakh. Mehta returned ₹1.4 lakh, which built Kaushal's trust. Encouraged, Kaushal later invested an additional ₹45 lakh in September 2024. However, by October 2024, he received no returns. Mehta told Kaushal there were delays due to market issues and assured him with an affidavit that he would receive his money back with interest. When Kaushal finally tried to contact Mehta, he found him unreachable. Kaushal's son discovered that Mehta's house was locked, and they realized they had been scammed. Kaushal reported the incident to the Juhu police. A case of fraud and embezzlement has been filed against Mehta, and police are searching for him.