Daijiworld Media Network - Belagavi

Belagavi, Nov 6: A man from Bailhongal has reportedly lost Rs 9.2 lakh to an online investment scam involving a fake trading platform named Orionex Markets. The victim, lured by false promises of high returns linked to rising gold prices, was deceived into transferring the amount to the fraudsters.

The victim, identified as Praveen Anant Renike, lodged a complaint at the District Cyber Economic and Narcotics (CEN) Police Station, Belagavi. According to police, on October 13, Praveen received a WhatsApp message from an unidentified number claiming that the price of gold was soaring and that investments in Orionex Markets could yield significant profits.

Trusting the sender, he clicked on a link resembling an official trading website and entered his personal and banking details. An online account was created in his name, showing fabricated profits to encourage further investments. However, when Praveen attempted to withdraw his funds, the fraudsters cut off all communication — revealing the elaborate scam.

Police have launched an investigation into the case and urged the public to remain cautious against unsolicited online investment offers, especially those promising unrealistic returns.

Cyber officials have reiterated that legitimate investment platforms are always registered with the Securities and Exchange Board of India (SEBI) and advised citizens to verify credentials before making any financial transactions online.