Mangaluru: Investment scam leaves victim at a loss of Rs 10.32 lakh

Team Udayavani, Jan 23, 2024, 11:45 AM IST

An individual has fallen prey to a fraudulent scheme, resulting in a significant financial loss of Rs 10.32 lakh. The unfortunate incident unfolded under the guise of expert advice on share market investments.

The victim initially encountered an advertisement from the ‘992 Stock Frontline Group’ on Facebook, luring interested individuals to join their WhatsApp group. Intrigued by the prospect, the victim joined the group, where discussions and messages related to stock investments were actively shared.

Under the guidance of the group admin, the complainant was directed to register on the online app ‘CHC & SES App.’ Following further instructions, the victim proceeded to invest money through the app. In compliance with the admin’s directives, a total of Rs 10.32 lac was transferred in multiple phases to various bank accounts provided by the administrator.

Regrettably, the promised returns failed to materialize, and the victim found themselves unable to recover the invested amount.