Stock Market Fraud in Mumbai: Two Conmen Dupe Bank Manager of Rs 26 Lakh in Chembur

In a shocking case of fraud, two conmen allegedly duped a young bank manager from Chembur of ₹26 lakh by luring her into investing in the stock market. The Tilak Nagar police have registered a case of embezzlement and fraud against the accused, identified as Imran Ahmed Munne Qureshi and Aamir Ali Dostmohammad Merchant. With both suspects absconding, the police have launched a special operation to arrest them.

The victim, a senior manager at a private bank in Ghatkopar, resides with her family in the Chembur area. She had previously worked as a relationship manager at another bank. The case dates back to 2018, when she first met Aamir Ali, who was a customer at her former bank. During their interactions, Aamir claimed to be involved in the stock market and later introduced her to Imran.

Both men convinced her to invest in stocks, promising lucrative returns. They provided her with details of various stock market schemes and assured her that she would earn significant profits. Trusting their words, she decided to invest through them. The duo also promised her a monthly commission of 10% on the invested amount.

Between August 28, 2022, and March 5, 2023, she invested approximately ₹26 lakh. Initially, she received her commission for a few months, but soon the payments stopped. When she inquired about the delays, both men provided excuses and tried to avoid her questions.

Over time, the victim discovered that Aamir had vacated his residence in Neral, Navi Mumbai, and had been out of contact. Despite her repeated attempts to recover her money, they did not pay her back. Eventually, both accused switched off their phones.

Realizing she had been duped, the woman lodged a complaint with the Tilak Nagar police. After verifying her claims, the police registered a case against Imran Qureshi and Aamir Ali Merchant for defrauding her of ₹26 lakh under the pretext of stock market investments.

The police have initiated further investigations and are actively searching for the accused.