Belagavi Man Loses Rs 5.4 Lakh in Online Investment Scam, Police Register IT Act Case
A 29-year-old man from Belagavi district in Karnataka has reportedly fallen victim to a sophisticated online investment scam, losing over Rs 5.4 lakh to cyber fraudsters. The incident, which highlights the growing threat of digital financial crimes, has prompted police to register a case under the provisions of the Information Technology Act.
Details of the Alleged Cyber Fraud
According to the complaint filed by Parashuram Lamani, a resident of Kagihal tanda in Savadatti, Belagavi, the scam began on February 18 when he received a phone call from a woman identifying herself as Kaveri. She allegedly lured him into participating in an online task-based investment scheme by claiming that she had personally earned substantial profits through the platform.
Trusting her assertions, Lamani was persuaded to invest money with the promise of high returns. The following day, on February 19, he transferred Rs 2 lakh via RTGS to a bank account belonging to a person named Gulam Hussain. On February 20, he made two additional transfers: Rs 2.4 lakh via RTGS to the bank account of Monu Yadav and another Rs 99,200 via RTGS to the bank account of Kuldeep.
In total, Lamani alleged that he invested Rs 5,39,200 from his bank account into the scheme. However, he neither received any promised profits nor managed to recover his invested amount, leading him to suspect foul play.
Police Action and Legal Implications
Based on Lamani's complaint, the Kundapur Rural police have registered a case under the relevant sections of the IT Act. This move underscores the legal framework's role in addressing cybercrimes, which are becoming increasingly prevalent in India's digital landscape.
The case serves as a stark reminder for the public to exercise caution when engaging in online financial transactions, especially with unverified platforms or individuals promising unrealistic returns. Authorities are urging citizens to verify the legitimacy of investment opportunities and report any suspicious activities promptly to prevent such scams.
