Man lured to invest in frog-blood-business; duped of Rs. 3.66L
What's the story
A 40-year-old man was arrested today by Kalwa police in Thane for allegedly duping a resident of Rs. 3.66L by persuading him to invest in the business of supplying "frog blood" to a UK-based pharmaceutical firm.
Abdul Kadir Ibrahim Kucchi was arrested from Panvel today morning under IPC section 420 (cheating), senior inspector Nitin Thakre of the Crime Branch said.
Details
Victim was promised great returns
The complainant, Ninad Telgote, received an email from Kucchi some days ago, which said there was a great demand for "blue blood of frogs" from a pharmaceutical company in the UK.
If he were to invest money in this business, he would get great returns, the email promised.
Telgote was asked to deposit Rs. 3.66 lakh in a bank account.
Further probe on
Police suspect accused cheated others too
Telgote realized that it was a scam when the accused stopped responding to his emails.
He then approached the Kalwa police, following which the Crime Branch arrested Kucchi from Panvel near Navi Mumbai today, inspector Thakre said.
Police suspect that Kucchi was part of a gang which has cheated people in various states using the same method.
Further probe is on.