Udupi: Woman loses Rs 51 Lakhs to bogus online investment scheme

Team Udayavani, Dec 22, 2023, 9:31 AM IST

Representative image (Source: iStock)

A woman from the city fell prey to a bogus investment scheme, losing Rs 51.9 lakhs to online crooks. The victim was promised inflated returns through investments in the share market.

According to the complaint, unidentified individuals reached out to her via Telegram and WhatsApp, claiming themselves to be affiliates of the Tiger Global Trade mobile app.

They assured the woman substantial profits from stock market investments and persuaded her to invest money by guaranteeing returns, which could be withdrawn within a remarkably short span of 48-72 hours. Succumbing to their promises, the woman transferred a total sum of Rs 51.90 lakhs into this scheme, through UPI and IMPS transactions between November 16 and December 13.

However, neither the promised returns materialized nor was the invested amount returned. A case has been filed at the CEN police station.