India, March 23 -- Based on the complaint of a former president of a Mumbai-based pharmaceutical MNC, the Juhu police have registered a case against his wealth manager, who was assigned to him by a leading private bank. According to the complainant, the manager took money from him, promising him 12% returns and even gave him four blank cheques, but eventually cheated him of Rs.75 lakh.

The victim, a resident of JVPD, retired in October 2024. "While he was working in the MNC at Lower Parel, his salary was credited to his account in a private bank," said a police officer. "The bank appointed Jay Mehta as his wealth manager."

Over time, Mehta gained the confidence of the complainant, as he was operating both his and his wife's bank account...