Mangaluru man loses Rs 1.38 crore in online share market investment scam

In his complaint, the man says a person contacted him through WhatsApp and claimed that investing money would yield high returns

Mangaluru: A 32-year-old man has alleged that he was cheated of Rs 1,38,20,060 in an online share market investment scam orchestrated through WhatsApp.

In a complaint filed at the CEN police station in Mangaluru, the complainant has said that on December 15, 2025, a person identifying herself as 'Rishita' contacted him via WhatsApp, expressing interest in purchasing carpets and home decorative items from his company. In response, the complainant shared photographs of the products with the said number.

Two days later, the same person began sending WhatsApp messages related to online share market investments, claiming that investing money would yield high returns. Influenced by these messages, the complainant agreed to invest. He clicked on a link shared by the accused and registered by providing his name and address. As instructed, the complainant transferred money to various bank accounts through RTGS and NEFT transactions between December 17, 2025 and January 14, 2026. The total amount transferred was Rs 1,38,20,060.

On January 15, when the complainant attempted to withdraw the invested amount along with the promised profits, the accused demanded payment of “service tax” for processing the withdrawal. This raised suspicion, and the complainant refrained from making any further payments.

After consulting his friends, the complainant realised that he had been duped. The complaint stated that an unknown person named 'Rishita' fraudulently got the money transferred the money under the guise of share market investment and committed online financial fraud.