Daijiworld Media Network – Mangaluru

Mangaluru, Dec 30: A Mangaluru resident has fallen prey to a sophisticated online investment scam, losing Rs 51.80 lac after being lured with promises of high returns from stock market trading.

A case has been registered at the Cyber Crime police station, police said.

According to the complaint, an unidentified person contacted the victim on WhatsApp in October, claiming that substantial profits could be made by investing online in the share market. Trusting the pitch, the complainant said he was persuaded to join a WhatsApp investment group.

“The group was administered by a woman identified as Deepa Rasimane, who explained the investment procedures and shared regular updates,” police quoted the victim as saying. He further stated that he was directed to download an application using a link sent through the group.

Through the app, a person identified as Dinesh K Wafel allegedly provided step-by-step guidance and investment tips, reinforcing the impression of legitimacy. Convinced by the representations, the victim began transferring funds as instructed.

Between November 11 and December 23, the complainant allegedly remitted money in phases to different bank accounts via the app, amounting to a total of Rs 51.80 lac, the complaint stated.

The fraud came to light when the promised returns failed to materialise and communication from the accused ceased. The victim subsequently approached the police, following which the Cyber Crime police registered a case and launched an investigation into the scam.

Authorities said efforts are under way to trace the accused and the flow of funds.