A woman was cheated of Rs 18.56 lakh allegedly by a man who promised her high returns on mutual fund investments, a Thane Police official said on Sunday, reported the PTI.

According to the PTI, between March 2021 and March 2023, the 47-year-old homemaker invested money on the advice of the accused but he failed to pay her interest, dividends or other payments she was supposed to get, the MFC police station official said.