A resident of Mangaluru has been defrauded of ₹24.2 lakh in a complex online investment scam, which began with an advertisement on social media. The incident highlights the increasing prevalence of sophisticated cyber fraud tactics targeting unsuspecting individuals in the region.
Victim Lured by Social Media Ads and Deceptive Online Platforms
According to details received by The Chenab Times, the victim initially encountered an advertisement on Instagram related to trading. Clicking on this advertisement led him to a group named ‘Fyers Market Discussion Group’. Subsequently, an individual identified as Sharon Trivedi added the victim to a WhatsApp group and encouraged him to invest by filling out an application form. Following this, the victim was directed to download and install a specific application. Trivedi maintained regular contact, promoting various attractive investment schemes, particularly in institutional stock and IPO placement. The application’s customer support also guided the victim on depositing funds into multiple provided bank accounts.
The fraud did not end there. The victim was also enticed by another trading company advertised on Instagram. Through different WhatsApp numbers, a person named Ishita Paul provided trading information and directed the victim to a website. Again, the victim was instructed to deposit money, and the customer support team provided several bank account numbers and IFSC codes.
Multi-Stage Fraud Leads to Significant Financial Loss
Between April 21, 2024, and May 31, 2025, the victim transferred a cumulative sum of ₹24.2 lakh through various methods, including UPI, RTGS, and IMPS, to multiple bank accounts provided by the fraudsters. Initially, a small amount was returned to build trust. However, when the victim requested the remaining funds, the fraudsters demanded tax and commission. Even after these payments, they insisted on a 10% security deposit to release the rest of the funds. This demand raised the victim’s suspicion, leading him to realize he had been deceived. He had initially hoped to recover his investment but, upon receiving nothing, finally filed a complaint with the police. A case has since been registered at the CEN Crime police station.
Wider Trend of Cyber Fraud in Mangaluru
This case is one among several cyber fraud incidents reported in Mangaluru in recent times. The city has seen a significant rise in such crimes, with residents losing substantial amounts to various online scams, including investment fraud, digital arrest scams, and unauthorized transactions. Police reports indicate that in the last 26 months, Mangaluru residents have lost over ₹100 crore to cyber fraud. The police commissioner has urged citizens to be cautious of schemes promising quick and attractive returns, emphasizing that there is no shortcut to earning money. Authorities are actively investigating such cases, working to trace the perpetrators and recover the defrauded amounts. The strategy often involves creating a sense of urgency and legitimacy through impersonation and the use of sophisticated online platforms and communication channels.
The investigation is ongoing, with authorities working to identify all individuals involved in the scam and trace the flow of money through the multiple bank accounts used. The incident underscores the critical need for enhanced cybersecurity awareness and vigilance among the public to prevent falling victim to increasingly elaborate cybercriminal activities.
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The Chenab Times News Desk
