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Banker Arrested For Cheating Elderly Woman Of Rs 76.50 Lakh
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News18•08-10-2026, 20:30
Banker Arrested For Cheating Elderly Woman Of Rs 76.50 Lakh
- •A bank manager named Jay Mukesh Mehta was arrested in Mumbai for allegedly cheating an 85-year-old woman of Rs 76.50 lakh.
- •The accused and his family members convinced the elderly widow to invest money in the stock market with promises of high returns.
- •Between September 2021 and July 2023, the victim transferred Rs 76.50 lakh, but received only Rs 5 lakh in returns.
- •The Mehta family vacated their residence and went missing after the fraud came to light, with investigations revealing other victims as well.
- •Jay Mehta was remanded in police custody, while police are actively searching for his wife, father, mother, and brother who remain absconding.
Key Questions Answered
The bank manager convinced the elderly woman to invest Rs 76.50 lakh in the stock market by claiming that he and his wife possessed expertise in shares and could secure attractive returns.
The primary suspect is bank manager Jay Mukesh Mehta, who was arrested, while his wife Sunita Mehta, father Mukesh Mehta, mother, and brother went on the run and remain absconding.
Jay Mukesh Mehta was arrested on Monday following a six-month manhunt and was subsequently remanded in police custody, while law enforcement authorities continue search efforts to apprehend the remaining four family members.
