Share broker held

KOLHAPUR, Nov 8: A Mumbai-based share broker was arrested by Shahupuri police for cheating a retired army man to the tune of five lakh rupees by promising him to purchase shares. The search for one of the accomplices of the share broker, who has also been named accused in the case is on.

Following a complaint lodged by Lt.Col.retd. Chandrakant Chavan, the police arrested Lalit Dangi from a lodge in the city. He has now been remanded in three days police custody. Dangi and Kajbajewere paid Rs 4.98 lakhs by Chavan, in installments, for the purchase of shares. Chavan, however got suspicious of their motives as they did not give him receipts following which he lodged a complaint.