Udupi: Trio cheated of crores of rupees in alleged investment fraud

Team Udayavani, Sep 6, 2024, 9:41 AM IST

Udupi: A case of investment fraud amounting to crores has been registered at the Udupi CEN Police Station.

Lynette Sophia D’Mello, a native of Shirva currently residing abroad, along with her husband and his cousin, was allegedly defrauded of Rs 3.60 crore reportedly by a person named Vidya Someshwar. Vidya convinced them to invest in a company called ‘SP Capitals Trading’, claiming they would receive high returns from “offline trading” markets.

Between September 19, 2019, and August 29, 2024, Vidya reportedly transferred the funds to her personal account but failed to return either the invested amount or the promised returns. Lynette Sophia D’Mello lodged a complaint, and the police have begun an investigation into the matter.