The Mangaluru CEN police have arrested a man for allegedly duping an investor in Mangaluru by promising to invest money in the stock markets for high returns.
The accused has been identified as Jijo John P K (29) a resident of Calicut, Kerala.
According to the police, Jijo had promised high returns from stock market investments and had taken Rs 1 crore from the investor from Shaktinagar in Mangaluru.
Police said, Jijo had promised the victim a return of as high as 15% from his stock market investments. However, it turned out to be a false promise, and he failed to return the money to the victim.
The accused has been produced before the court, the police said.