Mangaluru man loses Rs 58.26 lakh to online fraud while attempting to sell old coins

Mangaluru: A man lost Rs 58.26 lakh in an elaborate online fraud while attempting to sell old coins. According to the police complaint, on November 25 around 11 am, the victim was browsing Facebook at home when he came across an advertisement offering to buy old coins at high prices.

Having 15 old coins, he contacted the WhatsApp number in the ad and sent photos of the coins. After reviewing the images, the scammers claimed they were willing to purchase the coins for Rs 49 lakh but required an initial Rs 750 for RBI registration.

Trusting the process, the complainant transferred Rs 750 via UPI the same day. Following which, he received multiple WhatsApp messages requesting additional payments under various pretexts, including Rs 17,500 for GST processing, Rs 94,500 for insurance, Rs 49,499 for TDS, Rs 71,500 for GPS fees, Rs 39,990 for ITR fees, and Rs 3.5 lakh for an RBI notice fee. The victim transferred the amounts through RTGS, NEFT, and UPI as instructed.

On December 15, the victim received another call introducing as Mumbai Cyber Police Commissioner Gaurav Shivaji Rao Shinde. The caller claimed an RBI notice had been issued against him and threatened arrest unless Rs 12.55 lakh was paid. The caller had promised the victim that money would be refunded within a hour. Trusting the caller, he transferred Rs 9 lakh to a DCB Bank account on December 17.

When the victim began to question the legitimacy of the claims, the caller became aggressive and continued to threaten him. Between November 25 and December 30, the victim received numerous calls and WhatsApp messages from three different numbers, demanding money. In total, the man lost Rs 58.26 lakh to the scammers.

A case has been registered at the Kavoor police station.