The South Cyber police have arrested a man from Dongri for defrauding a retired 75-year-old ship captain, Zhakshis Kosa Wadia, of Rs11.16 crore in a stock trading scam.
The accused, Kaif Ibrahim Mansuri, misused multiple bank accounts for the fraud.
The police seized 33 debit cards and 12 cheque books linked to various accounts.
He has been sent to police custody till December 2.
Wadia, who retired in 1985, was added to a WhatsApp group investment club on August 19 this year.
The group shared information about stock market investments, gradually gaining his trust.
He was later sent a link that opened an account in the name of an investment company.
Subsequently, a woman named Anya Smith contacted him, offering guidance on investments.
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