A 35-year-old man in Mangaluru has been defrauded of a massive sum of ₹32 lakh after being lured into a fake stock trading scheme by a woman he befriended on Facebook. The victim invested his money believing the promise of high returns.

How the Fraud Unfolded -

The Connection: The victim befriended a woman on Facebook who claimed to be a stock trader working in Mumbai. She convinced him that substantial profits could be made through trading.

The Trap: She sent him a link via WhatsApp, instructing him to join a specific trading application. The victim registered and provided all his details. The Book You Wish Your Parents Had Read (and Your Children Will Be Glad That You Did) : THE #1 SUNDAY TIMES BESTSELLER Paperback – 14 January 2021

Initial Gains: To gain his trust, the victim initially invested ₹40,000, which purportedly yielded a profit of ₹9,504. Following this, an investment of ₹2 lakh showed a profit of ₹23,760.

Escalation and Loss: Encouraged by the initial "success," the victim continued to invest more money in phases, eventually transferring a total of ₹32 lakh to the platform with the hope of receiving substantial returns.

Police Complaint -

After realizing he had been duped and could not retrieve his funds, the victim filed a complaint alleging that his money was fraudulently transferred through online means. A case has been registered at the City Cyber Police Station in Mangaluru, and an investigation into the matter is currently underway. Also Read: Close Associate of Ratan Tata, Mehli Mistry, Resigns as Tata Trusts Trustee; Urges: "Preserve Ratan Tata's Dream"