India, April 10 -- A 67-year-old businessman from Colaba was cheated of Rs.1.10 crore by a cyber fraudster who told him he was Latvian. Police said the woman had befriended him, chatted with him online for over a year, and even met him near the Gateway of India in South Mumbai.

She then lured him to invest in a purported scheme by promising high returns, as a fallback during his retirement. Initially, the returns did come in but the businessman realised he had been cheated when the Delhi police froze his bank account.

"We have registered a case on the complaint of the businessman, who was associated with the jewellery business," said a police officer from the Colaba police station.

The fraudster approached the businessman via social me...