Mumbai, Oct 21 (PTI) The Mumbai police have arrested a 38-year-old fraudster from Tamil Nadu for allegedly cheating a man of Rs 12 lakh by promising high returns on diamond trading investment, an official has said.

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The accused, a resident of Coimbatore, was arrested by a team of South Region Cyber Police Station of Mumbai Crime Branch, he said on Thursday.

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"During the probe, it came to light that the accused had cheated many people by promising high returns in diamond trading," he said.

The probe team froze at least five crypto wallets in which crypto currency worth lakhs of rupees was kept, the police official said, adding that 30 current bank accounts, which were used to park money, were also frozen.

Police have also seized 119 mobile phones used in the offence.

"The accused befriended the victim online and chatted with him on WhatsApp between April 5 and May 9 by posing as a woman. During the chats, the accused persuaded the complainant to invest in diamond trading and sent the link of a website,” he said.

The victim then deposited Rs 12 lakh into various bank accounts, he said.

"The accused told the victim that he has earned dividend for his investment. But when the latter tried to redeem the dividend amount, he failed to get it," the official said.

The victim then realised that he has been duped, following which he approached the police and filed a complaint against the accused, he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)