Udupi: A 30-year-old man from Kumragodu village in Brahmavar has been cheated of nearly Rs 15.95 lakh in an online investment fraud linked to a fake e-commerce and digital marketing scheme, police said.
Instagram advertisement led to fraud
According to the complaint filed with the Brahmavar police, the victim, Arun Acharya, came across an advertisement on his Instagram account on July 22, 2024. The advertisement was posted by an entity calling itself “E BOSS Marketing & Services Company”, which claimed to offer lucrative opportunities in e-commerce, digital marketing and dropshipping.
The advertisement promised high returns through online business activities and appeared professionally designed, giving it the appearance of a legitimate company. Attracted by the prospect of earning additional income, Arun contacted the mobile number mentioned in the advertisement.
WhatsApp communication and online ‘training’
After making contact, the accused shifted communication to WhatsApp and began interacting with the complainant on a regular basis. Arun stated in his complaint that he was provided with online “training” sessions, during which he was guided on how to invest money and generate profits through the alleged business model.
The accused reportedly explained various investment plans and assured Arun that the company was engaged in genuine e-commerce and digital marketing operations. Screenshots of supposed earnings, transaction details and success stories of other investors were also shared to build confidence.
Initial returns gained victim’s trust
Police said that, as is common in such frauds, the complainant initially received high returns on his early investments. These payments were credited promptly, which strengthened his belief that the scheme was genuine.
“The initial payouts created trust and encouraged the victim to invest larger sums,” a police officer said. Encouraged by these returns and reassured by constant communication from the accused, Arun decided to continue investing more money in the scheme.
Phased transfers over several months
Believing the venture to be legitimate, Arun transferred money in a phased manner between September 2024 and December 19, 2024. The funds were sent through NEFT transactions to bank accounts linked to E BOSS Marketing & Services Company, which is allegedly owned by one Har Simran Singh.
In total, Arun transferred Rs 15,95,005.90 over multiple transactions. Police said the money was sent to accounts provided by the accused, who continued to promise higher profits and long-term returns.
Payments stop, victim realises fraud
The fraud came to light when, after receiving the substantial amount, the accused stopped paying further profits and also failed to return the invested amount. Arun tried repeatedly to contact the accused through phone calls and WhatsApp messages, but either received evasive responses or no reply at all.
Realising that he had been cheated, the victim approached the Brahmavar police station and lodged a formal complaint detailing the sequence of events, the transactions made and the communication with the accused.
Case registered under IT Act
Based on the complaint, Brahmavar police have registered a case under Sections 66(C) (identity theft) and 66(D) (cheating by personation using computer resources) of the Information Technology Act.
Police officials said they are analysing bank transaction records, mobile numbers, WhatsApp chats and other digital evidence to trace the accused and identify whether the fraud is part of a larger organised cybercrime operation.
Police warn against online investment traps
Cybercrime investigators have once again cautioned the public against falling prey to online investment schemes advertised on social media platforms. Officials said fraudsters often use Instagram, Facebook and messaging apps to lure victims with promises of high returns in e-commerce, digital marketing and cryptocurrency ventures.
“They use fake company names, professional-looking advertisements and initial payouts to gain trust,” a police officer said. The public has been advised to verify the authenticity of companies, avoid transferring money to unknown accounts and consult authorised financial experts before making any investments.
Conclusion
The case highlights the growing menace of online investment frauds targeting young individuals through social media advertisements. As police continue their investigation, authorities have urged citizens to remain vigilant and report suspicious online schemes promptly to prevent further financial losses.