Rs 38.54 lakh lost in investment fraud using Facebook ad

The victim was allegedly cheated of Rs 38.54 lakh after being lured to invest money online in the name of share trading.

Mangaluru: An FIR has been registered at Kavoor police station based on a complaint filed by a victim who was allegedly cheated of Rs 38.54 lakh after being lured to invest money online in the name of share trading.

On October 14, 2024, while browsing Facebook, the victim came across an advertisement for share trading. He opened it and entered his personal details. Later, he received a call from an unknown person. The person instructed him to pay Rs 21,000 to register for share trading. 

Following their instructions, he paid Rs 4,000 and Rs 17,000 to the provided UPI IDs. Subsequently, individuals claiming to be from GMJD Global Stock Trading Company called and provided information about share trading. They lured him with the promise of higher profits if he invested more money.

As per their directions, he paid a total of Rs 38.54 lakh to various bank accounts between October 14 and November 19, 2024. After investment he was unable to recover the invested amount. After consulting his friend, he realised that he has been duped.