Jalna (Maha), Oct 30 (PTI) Five persons from Madhya Pradesh have been arrested for cheating a school teacher here of Rs 2.32 lakh by promising to invest his money in an online share trading company, the police said.
The accused, all in 22-24 age group, were identified as Ganesh Kailashchand Kevat, Umesh Jagdish Gaur, Shrikant Meena,Mansingh Ramdayal Gujar and Hani Mangal Totala.
All of them were nabbed on Thursday. They are residents of Bhanupura tehsil in Mandsaur district of MP, said Sub Divisional Police Officer Sudhir Khiradkar.
They have been remanded in police custody for five days, he said.
As per complainant Laxman Kondiba Mule (52), the accused contacted him online and lured him into investing in a `stock trading firm', promising good returns. They would speak to him over phone.
Mule invested a total of Rs 2.32 lakh since last November. Initially he was paid a `profit' of Rs 18,000, but later payments stopped and he realized that he had been duped.
A case of cheating under the IPC and the Information Technology Act has been registered, the police officer said.
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