Mangaluru: Man loses Rs 58.26 lakh in old coin scam

Team Udayavani, Jan 9, 2025, 10:53 AM IST

Mangaluru: A man from Mangaluru lost Rs 58.26 lakh after falling for a Facebook advertisement promising high returns for old coins.

On December 25, the complainant contacted the number listed in the ad, claiming he had 15 old coins. The fraudsters offered Rs 49 lakh for the coins.

However they asked to pay Rs. 750 initially for RBI registration. The complainant sent it through UPI. Later, a message was sent to the complainant’s WhatsApp number asking him to pay GST processing fee of Rs. 17,500, insurance fee of Rs. 94,500, TDS fee of Rs. 49,499, ITR charges of Rs. 71,500, GPS fee of Rs. 39,990 and pending RBI notice of Rs. 3,50,000. Believing this, the complainant transferred the money through various bank accounts.

Later, an individual posing as Mumbai Cyber Police Commissioner threatened him with arrest unless he paid an additional Rs 12.55 lakh, claiming it was an RBI directive.

After realizing this was a scam, the victim reported the incident to Kavoor Police Station. An investigation is underway.