Two men were arrested by the V P Road police for allegedly cheating an investor, who had been lured with the promise of high returns of R73.27 lakh. The police identified the accused as Tejas Gadigavkar, 37 and Vinod Parmar, 40.

The police said, in 2019, Sameer Manjrekar, 42, a senior manager in Nippon Life India Mutual Funds, had got introduced to Gadivakar through a friend. Gadigavkar had allegedly told Manjrekar that he is the director of Bulkar Equity L L P Share Investment firm. He lured him with the promise of five per cent returns on investment.