Mangaluru: Former lecturer loses Rs 85.68 lakh in online share market scam

Mangalore Today News Network

Mangaluru, December 24, 2025: A 44-year-old former lecturer from Mangaluru has reportedly lost Rs 85.68 lakh in an online share market investment scam after being lured through social media and WhatsApp groups.

According to the complaint, the victim, currently unemployed, came across a link for “shares investment market online training classes” on Instagram. After registering through the link, his mobile number was added on October 31 to a WhatsApp group named NOMURA BHF S407, allegedly managed by two foreign numbers.

A woman, identifying herself as Kavya, claimed to be an assistant with Nomura Investment Managers Limited and frequently posted messages promising that investors could double their money through stock purchases and sales.

Encouraged by these claims, the victim followed instructions to download several mobile applications, including AppIIFL, NOMPORNAX, N+HNW, and Ntradedevicepro, and registered using his personal details. Initially, he received small returns on investments, which boosted his confidence. Between November 11 and December 9, he transferred a total of Rs 85,68,387.49 to various bank accounts provided by the scammers.

When he later requested the return of his invested funds, the accused demanded a “service tax” to release the money. Suspecting a fraud, the victim stopped further payments and realized he had been duped. He informed his family and lodged a formal complaint.

The case, registered at the CEN police station, alleges that unknown persons, under the pretext of share market investments, collected money online through fraudulent means.