Mangaluru: Investor Loses ₹24.22 Lakh in Online Trading Scam, Files Complaint

Mangaluru: Investor Loses ₹24.22 Lakh in Online Trading Scam, Files Complaint

Mangalore Today News Network

Mangaluru, June 8, 2025: A victim of a massive online trading scam has filed a complaint with the Cyber Crime, Economic Offenses and Narcotics (CEN) police station. The complainant alleged that he was defrauded of ₹24.22 lakh after being lured by fraudulent trading schemes promoted through social media.

According to the complaint, the victim came across an advertisement on Instagram in March 2024 related to online trading. Upon clicking the link, he was redirected to a WhatsApp group called "Fyers Market Discussion." A group member, identified as Sharon Trivedi, shared a link to an application named "Fyersplus," which the victim subsequently downloaded.

The victim began transferring money through the app for various growth schemes and also invested in schemes offered by another trading platform, "Zerodha Trading Company." Between April 21, 2024, and May 31, 2025, he invested a total of ₹24.22 lakh.

When he sought to withdraw his investment, the fraudsters demanded additional payments under the guise of income tax and commission charges. After paying these amounts, the victim was further asked to deposit 10% of the invested sum as a security deposit.

Realizing he had been cheated, the victim approached the CEN police, seeking action against the operators of Fyers Market and Zerodha Trading platforms.

Police have registered a case and initiated an investigation into the matter.