A 75-year-old man from Mangaluru has fallen victim to an elaborate online trading scam, losing over Rs 18.8 lakh after being lured by a social media video that promised massive returns. The incident highlights the growing threat of cyber fraud targeting senior citizens through deceptive advertisements.
How the Scam Unfolded
According to the complaint filed at Kankanady Town police station, the victim came across a video on Facebook on December 6 last year. The video featured a speech by Union Finance Minister Nirmala Sitharaman, purportedly related to online trading. Intrigued by the prospect of high returns, the victim clicked on a link provided below the video and registered his personal details.
Shortly after, he received a phone call from a woman identifying herself as Meenakshi. Trusting her, he transferred Rs 21,000 to a bank account as instructed. He was then asked to access a link shared via WhatsApp and submit further details.
The Fraudsters' Modus Operandi
On December 15, another individual named Aksharagowda contacted him, claiming to be an assistant to one Anand Unnikrishnan. The victim was guided on trading activities through WhatsApp messages sent from an international number, with repeated assurances of high returns. Believing the claims, the victim continued transferring large sums of money on multiple occasions:
- Rs 3 lakh on December 18
- Rs 7 lakh on December 26
- Rs 3 lakh on January 6
- Rs 5.6 lakh on January 12
The fraudsters promised returns exceeding Rs 1 crore but failed to provide any profits. Realising he had been cheated, the victim calculated a total loss of Rs 18.8 lakh transferred to the accused's accounts.
Legal Action Initiated
A case has been registered at Kankanady Town police station, and investigations are underway to trace the perpetrators. The police have urged citizens to exercise caution while responding to online investment offers and to verify the authenticity of such schemes before transferring money.
This incident serves as a stark reminder of the risks associated with online trading platforms and social media advertisements. Authorities advise people to report any suspicious activity immediately and to avoid sharing personal or financial information with unknown entities.
