Mangaluru man loses Rs 8.30 lakh in investment trading scam

Mangaluru: A man has lost Rs 8.3 lakh to online fraudsters through a fake investment trading advertisement on a social media platform.

In a complaint to DK CEN police station, Ramesh H K said that on July 15, he came across a Facebook advertisement promoting Investment Trading.

After clicking on the link, he was redirected to a WhatsApp group where fraudsters instructed him to download an app for trading. He was then asked to complete his KYC and provide bank details.

As per their directions, Ramesh transferred money step by step into different bank accounts linked to the fraudsters, amounting to a total of Rs 8,30,000.

However, when he attempted to withdraw the amount, he was unable to do so. Instead, the fraudsters demanded that he deposit more money to proceed with the withdrawal.

Realising that he had been duped, Ramesh approached the police. Based on his complaint, the CEN Police have registered a case under IT Act sections 66(C), 66(D) and under sections 318(4) and 319(2) of the BNS Act.