Representative image of scam.
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Udupi: A 61-year-old retired employee of MIT, Manipal has fallen victim to an online stock trading scam and lost Rs 30.32 lakh.
In a complaint, Umananda KV said that he held a Demat account with Zerodha and had been investing in the stock market. On October 22, 2025, Umananda received a WhatsApp message from a person identifying himself as Harnish Mahesh Shukla, who engaged him in discussions about stock market investments. The accused subsequently added him to a WhatsApp group named “A1197BR Jalan Trading Hub.”
On October 23, the accused advised the complainant to invest in shares of a company named ‘ACMESOLAR’. Acting on this advice, Umananda purchased and sold 10 shares through his Demat account, incurring a loss of Rs 900.
The accused later assured the complainant of higher profits if he invested through BR Jalan Securities. Trusting this claim, Umananda transferred money between November 6 and December 31, to various accounts as instructed, investing through BR Jalan Securities, Shoonya Securities, and UHNwis Securities.
In total, the complainant invested Rs 30,32,000. However, neither the invested amount nor any promised returns were paid back. The accused allegedly gained the complainant’s trust and cheated him, resulting in a substantial financial loss, said the complaint.
Following the complaint, a case has been registered at the CEN station under Sections 66(C) and 66(D) of the Information Technology Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS).