Udupi resident loses over Rs 5 lakh to online investment fraud

Udupi resident loses over Rs 5 lakh to online investment fraud

Mangalore Today News Network

Udupi, July 9, 2025: An Udupi resident allegedly lost ₹5.42 lakh to an online investment fraud a few days ago. In the compliant to Udupi Cyber Economic and Narcotic (CEN) crime police station, the victim said that on June 13, he was added to ‘Chearles Schwab 20 gold foreign exchange trading group’ on Telegram app. On being assured of good returns, he transferred a total of ₹5,42,500 to different accounts of the members of the group.

When he asked members to return the invested amount, they requested that he send more money. Realising that he had been cheated, the victim filed a complaint, which was registered for offences under Sections 66(C) and 66(D) of the Information Technology Act and under Section 318(4) of the Bharatiya Nyaya Sanhita.

ISKCON staff duped

A fraudster allegedly duped an ISKCON staff of ₹26,000 by posing as a transporter who wanted to donate funds to ISKCON.

In a complaint to Mangaluru’s Surathkal police, the victim said a person called him on July 6 evening. The caller introduced himself as Rahul, owner of Balaji Transport in Yeyyadi in Mangaluru and expressed his desire to make a donation to ISKCON. He sent a message to the victim about the transfer of ₹1. He then sent another message transferring to the ISKCON account a sum of ₹ 30,000 and asked the victim to return ₹ 26,000 by stating that he had inadvertently sent a higher amount.

Believing the caller’s message, the victim returned ₹26,000. The caller then sent a message transferring ₹40,000 and asked the victim to return the amount. The victim could not return the amount to the caller.

The victim then checked the ISKCON account and realised that no amount from the fraudster was credited to the ISKCON account. The victim filed a complaint, which was registered by the Surathkal police.