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Online investment fraud: Mangaluru and Udupi residents lose over ₹27 lakh

Online investment fraud: Mangaluru and Udupi residents lose over ₹27 lakh


Mangalore Today News Network

Mangaluru/ Udupi, January 21, 2025: A Mangaluru resident lost ₹14.36 lakh and an Udupi resident lost ₹12.78 lakh in online investment fraud.

In a complaint to the Mangaluru South police, the victim said he looked at a channel named ‘Mr. Market Analyst-Mang by SEBI RA’ on YouTube and joined the Telegram group named ‘Mr. Market Analyst-Mang by SEBI RA’. The victim was promised ₹20,000 in return for investing ₹5,000.


Cyber fraud


He joined a related WhatsApp group and started sending money to accounts and UPI IDs given by fraudsters He transferred a total of ₹14.36 lakh between October 27, 2024, and December 19. When he did not get any returns, the victim filed the complaint seeking action against the accused.

A woman from Brahmavar in Udupi district has lost ₹12.78 lakh. In a complaint, the victim said she downloaded coinstore online trading app and called the number mentioned as customer services. Soon after, the accused contacted her through Telegram and promised good returns on her investment. She transferred a total of ₹12.78 lakh between January 13 and 18. As she did not get any returns, the victim filed the complaint with the Brahmavar police.

Both complaints were registered by the police for offences punishable under sections 66 (C) and 66 (D) of Information Technology Act.


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