‘Pay tax to withdraw’: Mangaluru man loses Rs 19.63 lakh in Telegram trading scam

Mangalore Today News Network

Mangaluru, Aug 25, 2026: A 38-year-old man allegedly lost Rs 19.63 lakh after being duped in a fake trading investment scheme operated through a Telegram group.

According to a complaint filed with the CEN police, the victim came across a Telegram group named “Trading Discussion Group12” on June 24 while searching for information related to trading. After joining the group, he was contacted through a Telegram account using the name ‘nalandacapital’.

The fraudsters allegedly provided UPI IDs and bank account details and instructed him to transfer money towards trading investments.

Between June 24 and August 20, the victim transferred money in several instalments, amounting to a total of Rs 19.63 lakh.

When he later attempted to withdraw the invested amount, the accused allegedly demanded payment of tax before processing the withdrawal. The victim reportedly made the payment as instructed. However, when he again sought to withdraw the money, the fraudsters allegedly told him that his trading account needed a balance of Rs 9,40,500 to enable the withdrawal.

Suspecting fraud, the victim consulted his neighbours and realised that he may have been cheated. He contacted the national cybercrime helpline 1930 on August 22 and subsequently lodged a complaint with the CEN police.