Daijiworld Media Network – Udupi

Udupi, Jan 5: A 61-year-old retired employee of the Manipal Institute of Technology (MIT), Manipal, has fallen victim to an online stock trading scam and lost Rs 30.32 lac.

In a complaint lodged with the police, Umananda K V stated that he held a demat account with Zerodha and had been actively investing in the stock market.

On October 22, 2025, he received a WhatsApp message from a person identifying himself as Harnish Mahesh Shukla, who initiated conversations regarding stock market investments. The accused later added him to a WhatsApp group named “A1197BR Jalan Trading Hub”.

On October 23, the accused advised the complainant to invest in the shares of a company named ‘ACMESOLAR’. Acting on the advice, Umananda bought and sold 10 shares through his Demat account, incurring a loss of Rs 900.

Subsequently, the accused assured the complainant of higher returns if investments were made through BR Jalan Securities. Trusting the assurance, Umananda transferred money between November 6 and December 31 to various bank accounts as instructed. The investments were made through BR Jalan Securities, Shoonya Securities and UHNwis Securities.

In total, the complainant invested Rs 30,32,000. However, neither the invested amount nor the promised returns were paid back. The accused allegedly gained the complainant’s trust and cheated him, causing substantial financial loss, the complaint stated.

Following the complaint, a case has been registered at the CEN police station under Sections 66(C) and 66(D) of the Information Technology Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS).