A 34-year-old fruit and vegetable trader from Mangaluru has become the latest victim of a sophisticated online investment scam, losing a staggering sum of Rs 33.1 lakh to fraudsters operating through a fake application. The case, which highlights the growing menace of cyber financial fraud, has been registered at the CEN crime police station.
The Lure of High Returns: How the Scam Began
The ordeal for the trader began in September when an unknown individual contacted him via Facebook with a tempting investment opportunity. The scammer sent a link which, when clicked, redirected the complainant to a WhatsApp number. On WhatsApp, the fraudster elaborated on the scheme, promising high returns on investments and instructed the victim to download a specific investment app. Trusting the offer, the trader downloaded the app as directed.
To build credibility, the scammer asked for an initial investment. On September 24, the trader transferred Rs 30,000. Shortly after, he received Rs 34,000 back as profit. This successful, albeit small, transaction was a classic tactic to win the victim's complete trust and hook him into the fraudulent scheme.
The Trap is Sprung: Massive Financial Loss
Convinced of the app's legitimacy, the trader began transferring larger sums of money. From September 24 to December 3, he made multiple payments in phases through Google Pay and IMPS. The funds were sent to various scam QR codes and bank accounts provided by the unknown person. The total amount drained from his accounts reached the devastating figure of Rs 33.1 lakh.
The Final Blow: Demands for More Money
The reality of the scam became apparent only when the trader tried to withdraw his investment and the promised profits. Upon contacting the individuals behind the operation, they refused to refund his money. Instead, they demanded additional payments, insisting he first clear a "service tax" fee. Even after the complainant paid a small amount as instructed, none of his principal or profit was returned. The fraudsters continued to pressure him for more money, leading him to finally approach the police.
This case serves as a stark warning against online investment schemes that promise unrealistically high returns. Authorities urge citizens to exercise extreme caution, verify the authenticity of any financial app through official channels, and never transfer money to unknown accounts based on unsolicited messages on social media or messaging platforms.
