Mangaluru Man Duped of ₹38 Lakh in Online Trading Scam

A Mangaluru resident lost a whopping ₹38,53,961 after falling for a fraudulent stock trading advertisement on Facebook. Following the incident, a case has been registered at Kavoor police station.

According to the complaint, the victim clicked on an online ad and shared his personal details, which led to a call from an unknown person. The fraudster instructed him to transfer ₹21,000 as a registration fee for stock trading, providing UPI payment details.

Lured with Profit Promises

After the initial transaction, the victim received training and investment guidance from the so-called trading firm. He was tempted with promises of huge profits and convinced to invest larger amounts. Over time, he transferred a total of ₹38.53 lakh from different accounts.

However, when he attempted to withdraw his funds, he realized he could not access the money. It was only after discussing with friends that he understood he had been scammed.

Police Investigation Underway

The Kavoor police are investigating the matter and have urged citizens to be vigilant against online frauds. Authorities advise verifying the credibility of financial schemes before making any investments.

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