Udupi: Man loses Rs 2.30 crore in stock market scam
Udupi: Man loses Rs 2.30 crore in stock market scam
Mangalore Today News Network
Udupi, May 16, 2025: A case has been registered at the Udupi Cyber Crime Police Station regarding a financial fraud of ₹2.30 crore under the pretext of investing in the stock market.
According to the complaint, a 55-year-old man named Jayananda was added to a WhatsApp group by unknown individuals on March 20. Within the group, messages were circulated encouraging members to open accounts and invest in the stock market, promising high returns.
Convinced by the claims, Jayananda transferred a total of ₹2,30,65,000 in phases to various bank accounts provided by the accused between April 1 and May 13. However, it has been reported that he has neither received any returns nor the invested amount, indicating that he has been defrauded.
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