Udupi: Man duped of over Rs 50 lakh in fake stock market investment scam

Mangalore Today News Network

Udupi, Jul 8, 2026: A man residing and working in Udupi has allegedly lost more than ₹50 lakh in an online stock market investment scam, prompting the registration of a case at the Udupi Cyber Police Station.

According to police, the victim, a native of another state, clicked on an investment-related link that he received via WhatsApp. Believing the claims made by unknown individuals, he began investing money in the purported stock market scheme.

The fraudsters gradually gained his trust and persuaded him to invest more than ₹50 lakh in multiple transactions.

The victim realised he had been cheated only after he was unable to recover his money and the persons with whom he had been communicating became untraceable.

Based on the complaint, the Udupi Cyber Police have registered a case and launched an investigation into the fraud.