Mangaluru: Man defrauded of Rs 1.38 crore in stock market scam

Mangalore Today News Network

Mangaluru, January 20, 2026: A case has been registered at the Mangaluru CEN Police Station after a man was defrauded of Rs 1,38,20,060 under the pretext of stock market investments.

On December 15, the complainant received a WhatsApp message from an unknown number identifying as "Rishita," inquiring about carpets and home decor items. The complainant sent photos of decorative items to the same number as requested.

Fraud

Two days later, the same contact began sending messages regarding online stock market trading, promising high returns on investment. Enticed by these offers, the complainant clicked on a link provided by the individual, entered his personal details, and transferred a total of Rs 1,38,20,060 to various bank accounts between December 17 and January 14.

On January 15, when the complainant attempted to withdraw his investment and profits, the individual demanded an additional payment for "service tax." Suspecting foul play, the victim consulted friends and realized he had been scammed. A formal complaint has been filed, and the police are investigating.

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