The Borivli police have arrested a share broker and are on the lookout for three of his accomplices for allegedly abducting and assaulting a 25-year-old stock trader on Thursday for a ransom of Rs 11 lakh. The accused allegedly told the complainant that he recently suffered huge losses on his behalf and had to recover the money to keep his trading account going.

Police sources said the complainant, who refused to speak to mid-day, is a resident of Borivli. In November 2021, he and two friends started an investment company at Navkar Paradise, Babhai Naka. He told the police that a friend then introduced him to accused Akshat Churana saying he could give good market tips. The complainant and his partners then invested Rs 1.75 lakh through Churana.