India, May 9 -- A 71-year-old retired Merchant Navy captain from Dadar East was allegedly cheated of Rs.3.37 crore by cyber fraudsters posing as associates of Axis Capital MD and CEO Atul Mehra.

A case has been registered against unidentified persons under sections related to cheating, impersonation and forgery, along with provisions of the Information Technology Act.

According to police, the complainant was added to a WhatsApp group in January purportedly linked to the investment firm. He was later contacted by a woman claiming to be Mehra's assistant, who offered to help him invest in the stock market.

Police said the woman collected his details and later informed him that his investment account had been approved. She then sent him a...