New Delhi, Feb 28 (PTI) A 36-year-old man was arrested for allegedly cheating a businessman of around Rs 1.37 crore on the pretext of investing in a meat export business, an official said on Saturday.

The accused, Mohsin Mohammed, was apprehended from New Rajendra Nagar in Delhi.

Police said a complaint was filed by Arjun Arora, who alleged that Mohammed induced him to invest substantial amounts by projecting himself as a large-scale meat exporter with business links in Dubai.

"The accused, along with his associates, allegedly created a false impression of running a profitable export venture and assured high returns on investment," the officer said.

He further said that Mohammed dishonestly obtained Rs 67.70 lakh through bank transfers from the account of the complainant's father.

The accused further persuaded the complainant to arrange USD 80,000 in Dubai through his associates as part of the purported business expansion.

"To gain the complainant's confidence and delay legal action, the accused allegedly issued cheques of two private banks despite being aware that sufficient funds were not available," the officer said.

Acting on an input, a team arrested Mohammed from Double Storey Residential Block in New Rajendra Nagar on February 20.

The officer said that Mohammed also cheated other victims using a similar modus operandi.

After allegedly committing the offence, he absconded and avoided joining the investigation.

Mohammed was earlier involved in a 2021 case registered at the Economic Offences Wing. Efforts are underway to trace other co-accused and recover the cheated amount, police said. PTI BM BM APL APL

Investment fraud: man arrested for allegedly inducing funds via a false export venture and issuing dishonoured cheques. The accused is alleged to have induced investment by falsely portraying a large meat export venture, obtained funds through bank transfers and arranged foreign payments via associates, and issued cheques despite insufficient funds; he absconded after committing the offence, was later arrested, and investigations aim to trace co accused and recover the cheated amount.