Mangaluru, Aug 30: An unsuspecting investor in Dakshina Kannada has lost a staggering ₹24.9 lakh after falling victim to a fake online share trading app. Police have urged the public to remain alert against such scams.
According to a complaint lodged with the CEN Police, the victim, C. Subrahmanya from Bantwal taluk, received a call on July 20 from an unknown person who claimed to represent the stock trading platform Fivepaisa.
He was then tricked into downloading a fraudulent app called Fivepaisamax through a link sent by the caller. Initially asked to invest ₹5,000, Subrahmanya deposited ₹40,000 and managed to withdraw only ₹1,000. Convinced by further promises of profit, he continued investing larger sums.
In multiple transactions, he transferred a total of ₹24.9 lakh to the fraudsters’ accounts. When he attempted to withdraw his remaining funds, the app blocked him, and he realised he had been duped.
Police have registered a case under Sections 66(C) and 66(D) of the IT Act, and Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita (BNS). Officials have cautioned citizens to avoid downloading investment apps from unverified links and to rely only on official platforms.










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