A man from Navi Mumbai was allegedly defrauded of Rs 1.19 crore after being promised high returns on investments, police said on Thursday. Per a PTI report, a case has been registered against three persons for cheating the 51-year-old. 

As per the PTI report, the complainant, a resident of Navi Mumbai's Vashi area, was enticed to invest in shares and initial public offering (IPO) of a well-known firm by the accused using falsified capital gains statements and tax documents.