Udupi Resident Defrauded of Over Rs 14 Lakh in Sophisticated Online Investment Scam
In a distressing case of cybercrime, a 40-year-old man from Suratkal in Udupi district has fallen victim to an elaborate online investment scam, resulting in a staggering financial loss exceeding Rs 14 lakh. The victim, identified as Irfan, was allegedly lured by fraudsters with promises of exceptionally high returns on investments, only to be left empty-handed after transferring substantial sums to multiple bank accounts.
How the Scam Unfolded: A Timeline of Deception
The fraudulent scheme began on August 3, 2025, when Irfan received a series of unsolicited phone calls from an individual claiming to be Vishal Rao. This person presented enticing investment opportunities, capitalizing on the victim's interest. To build credibility, the fraudster guided Irfan through the process of creating an account on a specific website, initiating what appeared to be a legitimate investment venture.
The deception escalated through digital channels: The scammer utilized Zoom ID meetings and professional-looking emails to provide instructions, creating an illusion of authenticity. Between August 3, 2025, and November 29, 2025, Irfan was directed to transfer money to various bank accounts as part of the supposed investment process. Trusting the elaborate setup, he complied, transferring a total of Rs 14 lakh across multiple transactions.
The Harsh Reality: No Returns and Mounting Losses
Despite the promises and sophisticated communication, neither the principal investment amount nor any of the advertised returns were ever paid back to Irfan. The realization that he had been systematically cheated prompted him to file an official complaint with the authorities. It was revealed that the fraudsters had exploited his trust through a well-coordinated digital facade, leaving him with significant financial damage.
This case highlights the growing sophistication of online financial scams, where perpetrators use technology to mimic legitimate business operations.
Legal Action and Police Investigation
Based on Irfan's detailed complaint, the CEN crime police station in Udupi has registered a formal case. The charges invoke serious sections of cyber and financial laws:
- Sections 66(C) and 66(D) of the Information Technology Act: These pertain to identity theft and cheating by personation using computer resources, underscoring the digital nature of the crime.
- Section 318(4) of the Bharatiya Nyaya Sanhita (BNS): This relates to cheating and dishonesty, reflecting the financial fraud aspect of the scam.
The investigation is ongoing, with authorities working to trace the digital footprints and bank transactions linked to the fraudsters. Irfan, who holds accounts in various banks in Udupi, is cooperating with the police to provide evidence and details that could lead to the identification and apprehension of the culprits.
This incident serves as a stark reminder for the public to exercise extreme caution when approached with unsolicited investment offers, especially those promising unrealistically high returns. Always verify the legitimacy of such schemes through official channels before committing any funds.
