Representative image for fraud.
Credit: iStock Photo
Mangaluru: A 44-year-old former lecturer from Mangaluru has allegedly lost Rs 85.68 lakh in an online share market investment fraud after being lured through social media and WhatsApp groups.
As per the complaint, the victim, who is currently unemployed, came across a link to “shares investment market online training classes” while browsing Instagram. After registering through the link, his mobile number was added on October 31, to a WhatsApp group named 'NOMURA BHF S407'.
The group was allegedly administered by two foreign numbers. A woman identifying herself as Kavya introduced herself as an assistant working with 'Nomura Investment Managers Limited'. She regularly posted messages and advertisements in the group claiming that investors could double their money through share market investments, stock purchases, and sales.
Influenced by these assurances, the victim expressed interest in investing. He was instructed to download multiple mobile applications, including AppIIFL, NOMPORNAX, N+HNW, and Ntradedevicepro, and to register using his personal details. Initially, he received small amounts as returns after making stock purchases, which further boosted his confidence. Subsequently, between November 11, and December 9, the victim transferred a total of Rs 85,68,387.49 to various bank accounts provided by the unknown persons. However, when he requested the return of his invested amount, the accused allegedly demanded payment of a “service tax” to release the funds. Suspecting fraud, the victim stopped making further payments. He later realised that he had been duped, and informed his family, following which a formal complaint was lodged.
The complaint stated that unknown persons, under the guise of fake share market investments, fraudulently collected money online. A case has been registered at the CEN station here.