India, March 19 -- The wealth manager of a well-known bank allegedly cheated a senior citizen of Rs.75 lakh by promising him 12% returns on share market investments. A case of embezzlement and fraud was registered against the manager, Jai Mukesh Mehta, who the police said fled before the case was registered.

The complainant, Yogesh Purushottam Kaushal, 60, lives with his family in the JVPD Scheme in Juhu. In October 2024, he retired from a private company in Lower Parel. While working at the company as its president, Kaushal's salary was deposited into a salary account at a private bank where Mehta worked as a wealth manager, which gave the latter complete access to information about Kaushal's bank account. Kaushal often contacted Mehta ...