43-yr-old Mangaluru man loses Rs 2 crore in online investment scam

Mangaluru: A 43-year-old man from Mangaluru has reportedly lost over Rs 2 crore in an online investment scam carried out by individuals posing as company representatives.

In a complaint to City CEN station, he said that the ordeal began on May 1, 2022, when the victim received a WhatsApp message from a person identifying himself as Ankit, who claimed to work for a reputed company.

The caller allegedly promised that any investment made through their platform would yield double returns. He also introduced three associates - Sumit Jaiswal, Kushagar Jain, and Akhil - who, he said, handled overseas investments to secure high profits.

Convinced by their assurances, the complainant sought more details. Ankit reportedly reiterated over a WhatsApp call that the investment was completely safe and free from fraud. Trusting his claims, the complainant initially transferred Rs 3,500 through a QR code provided by Ankit and soon received Rs 1,000 as “profit”.

Encouraged by the quick return, he went on to invest larger sums over the following months, transferring money in phases from his own bank accounts as well as from those of his uncle, wife, and niece.

Between May 2022 and August 29, 2025, he reportedly sent a cumulative total exceeding Rs 2 crore through UPI and IMPS transactions to multiple bank accounts linked to the accused.

In recent months, however, all communication from the group ceased. Despite repeated messages and calls, the complainant received no response. When he finally managed to reach Ankit, he was allegedly told that the others - Jain, Jaiswal, and Akhil - had cheated him and that Ankit had already cut ties with them.

Later, the trio allegedly called the complainant, issued death threats, and warned him against approaching the police. Alarmed, the complainant confided in his family and later lodged a complaint to the CEN station.