Udupi: In a shocking case of cyber fraud, a 41-year-old man from Udupi, identified as Chandrakant, reportedly lost Rs 29,68,973 after falling victim to an online investment scam.
Victim lured through Telegram
According to the complaint filed at the Cyber Economic and Narcotics (CEN) Crime Police Station, Chandrakant was first contacted on September 11 via Telegram by a user with the handle @Anjana_198_off. The fraudster claimed to represent Royal Mint, described as an official UK government organisation, promising high returns through investments in gold and silver coins and bars.
Chandrakant was persuaded to become a “gold bidder,” with daily earnings ranging between Rs 1,500 and Rs 5,000, simply by using a mobile phone or laptop. Believing the offer to be genuine, he was provided with a link to a platform allegedly run by Royal Mint.
Massive financial loss
Between September 18 and October 10, Chandrakant transferred a total of Rs 29,68,973 to multiple bank accounts shared by the fraudsters. Despite his payments, he neither received the promised profits nor was able to recover his money.
Realising he had been cheated, Chandrakant approached the CEN police, who have registered a case under Sections 66(c) and 66(d) of the Information Technology Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS).
Police have initiated investigations to trace the perpetrators and recover the victim’s money. Authorities have also urged the public to exercise caution while dealing with unsolicited online investment offers.