Businessman Falls Victim to Rs 1.38 Crore WhatsApp Investment Scam

A city businessman was scammed of Rs 1.38 crore through a WhatsApp share market scheme. The con began with inquiries about home décor and shifted to trading offers. Upon attempting withdrawal, additional payments were solicited, alerting the victim to the fraud, now under police investigation.

A businessman from the city found himself ensnared in a Rs 1.38 crore investment scam conducted over WhatsApp under the guise of a promising share market scheme, as reported by the police on Tuesday.

The ruse commenced when the victim received a message from an unknown number on December 15, purporting to inquire about carpets and home décor. The dialogue eventually transitioned to enticing offers in online share trading.

Fraudsters shared links between December 17 and January 14 that directed the victim to what appeared to be legitimate trading platforms. Assuming the offers were authentic, the victim entered personal information and transferred Rs 1,38,20,060 to various bank accounts, as instructed.

The deception was unveiled on January 15 when the victim attempted to withdraw his investment plus accrued profits. The fraudsters' demand for additional 'service tax' payments raised suspicions.

Consequently, the victim reached out to the Mangaluru CEN police station, where an FIR has been filed. Investigations are in motion to identify the perpetrators, trace the implicated bank accounts, and recuperate the lost funds.

The police caution the public against responding to unsolicited investment solicitations over messaging apps, urging them to confirm the legitimacy of trading platforms before engaging in financial operations.

(With inputs from agencies.)