Mangaluru: Man arrested for duping investor of Rs 1 Crore

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.