Beware of Investment Scams: Mangaluru Man Duped of Rs 20 Lakh in Fake J.P. Morgan Deal

News Network
October 22, 2024

Mangaluru, Oct 22: A Mangaluru resident has fallen victim to a ₹20 lakh scam after being lured into a fraudulent investment scheme by individuals posing as representatives of J.P. Morgan India. The case, filed at Kadri police station, highlights the growing threat of investment fraud in the region.

The victim, whose identity has not been disclosed, was contacted on September 24 by a man named Vishwanathan, who falsely introduced himself as the Chief Investment Strategist for J.P. Morgan India. Shortly after, a woman named Neeta Sharma reached out, using multiple phone numbers to convince the victim of her association with the prestigious financial firm. She shared a company link and urged the victim to invest ₹20 lakh, promising high returns.

On October 14, after being convinced by Neeta's claims, the victim transferred ₹20 lakh to the fraudulent account. Following this, Neeta instructed the victim to purchase 1,000 shares at ₹240 per share, which he did. The next day, she advised buying 7,900 more shares at ₹250.95 each, further strengthening her false credibility.

However, trouble arose when Neeta told the victim to withdraw the invested amount. Instead of receiving the full sum, the victim was sent only ₹1,500, transferred from an unknown account. When questioned, Neeta could not provide a clear explanation for the discrepancies.

Sensing the deceit, the victim demanded a full refund of his investment. Neeta, however, brazenly asked for an additional ₹4 lakh, prompting the victim to realize the extent of the fraud. He then filed a formal complaint with the Kadri police.

This incident serves as a critical reminder for the public to remain vigilant against fraudulent schemes, particularly those involving investment promises from unverified sources. Always ensure that you verify the legitimacy of financial institutions and representatives before transferring funds. 

The Kadri police are investigating the case and have urged the public to stay alert and report any suspicious investment schemes.

Tips to Protect Yourself from Investment Scams:

1.    Verify Credentials: Always cross-check the credentials of anyone claiming to represent a reputable financial institution. Use official contact information from the company's website to verify.

2.    Be Skeptical of Unsolicited Offers: Be cautious of unexpected investment offers, especially those that promise unusually high returns.

3.    Conduct Thorough Research: Before investing, investigate the company and the proposed investment thoroughly. Look for reviews, ratings, and any red flags.

4.    Report Suspicious Activity: If you suspect a scam, report it immediately to local authorities or financial regulatory bodies to prevent further fraud.

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News Network
April 14,2025

Haveri: The Contractors’ Association of Haveri district has raised a grave concern over the Karnataka government's failure to release pending payments amounting to ₹738 crore for public works executed over the past few years. In a desperate appeal, the association has warned that if the dues are not settled by the end of April, contractors may be forced to seek mercy killing (euthanasia) as a form of protest.

Addressing a press conference on Sunday, Mallikarjun Haveri, the taluk president of the Haveri District Contractors’ Association, alleged that corruption and commission demands in various government departments have exacerbated the financial distress of contractors.

“The commission racket is rampant,” he said. “Officials and middlemen have been demanding commissions ranging from 10% to 15% for clearing bills. Many contractors have borrowed money at exorbitant interest rates to complete government projects. Despite paying commissions, our dues remain unpaid. Middlemen are bleeding us dry.”

He further claimed that at least 10 contractors have died by suicide due to mounting debt and financial stress.

According to the association, in Haveri district alone:

₹200 crore is pending with the Public Works Department (PWD),

₹138 crore with the Rural Development and Panchayat Raj (RDPR) Department,

₹400 crore for projects announced during the previous BJP government.

The association reminded that contractors had protested in Belagavi during the winter session of the state legislature. At the time, the Public Works Minister had promised to clear the dues in phases by the end of March. However, the departments—including the RDPR, Karnataka Neeravari Nigam Limited (KNNL), and the Minor Irrigation Department—have yet to act on these assurances.

“We don’t want to take such extreme steps,” said the office-bearer. “But if the government continues to neglect us, we will be left with no option but to seek permission for euthanasia.”

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News Network
April 18,2025

oilport.jpg

The US military has struck the western Yemeni oil port of Ras Isa, leaving dozens of workers and paramedics dead, and dozens more injured.

The facility in Hudaydah governorate was hit at least two times on Thursday night, with the second strike coming as civil defense and rescue teams were extinguishing fires and recovering victims. The second attack killed at least five paramedics.

The Palestinian Information Center and al-Manar TV now report that at least 38 people have been killed in that attack, while 102 others injured.

The Yemeni government slammed the attack as a clear war crime aimed at supporting the Zionist regime and enabling it to continue the Gaza genocide.

It said the strikes prove that the US deliberately attacks civilian infrastructure in Yemen with false justifications.

The government vowed that this crime would not pass without painful punishment, and the US would reap nothing but humiliating defeat and failure.

The US military claimed the port was a source of fuel for the Ansarullah resistance movement.

The governorates of Sana'a, al-Bayda and Hudaydah were also hit with multiple strikes.

The United States intensified its deadly attacks on the country last month at President Donald Trump’s direct orders.

Washington claims the raids are strictly aimed at protecting shipping activity around Yemen, alleging that the regional waterways’ maritime security had been endangered by Sana’a.

Yemeni officials have, however, roundly rejected such claims, underlining that the country only targeted vessels belonging to the Israeli regime and ships taking supplies to it.

The operations implemented by Yemen’s Armed Forces began in October 2023, when the Israeli regime, the US’s most cherished regional ally, began taking the Gaza Strip under a genocidal war.

More than 51,000 Palestinians, mostly women and children, have been killed as a result of the warfare, which receives hugely enhanced and unstinting arms support on the part of Washington.

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News Network
April 7,2025

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Mangaluru, Apr 7: In a chilling and heart-wrenching turn of events from Nadugallu in Nalakuru village of Sullia taluk in Dakshina Kannada, a mother and son’s desperate act to end their lives has left a community in disbelief. The duo allegedly consumed rodent poison in a joint suicide attempt, resulting in the son’s death and leaving the mother in a critical condition.

The deceased has been identified as 32-year-old Nithin, son of Kushalappa Gowda of Derappajjanamane, Nalakuru. His mother, Sulochana, is currently battling for her life in a hospital. According to sources, the incident took place three days ago, with both victims falling severely ill by the morning of April 6.

Nithin, an ITI diploma holder, had been managing his family's agricultural land. He had married Deeksha, a guest lecturer at a local college, about a year ago. At the time of the tragic incident, Deeksha was reportedly staying at her parental home. During her absence, Nithin and Sulochana allegedly consumed poison in what is believed to be a premeditated act.

Well-known in the village for his kind demeanor and strong social ties, Nithin’s untimely death has cast a shadow of grief and shock across the local community. His father, Kushalappa Gowda, is also said to be ailing.

The Subrahmanya police have registered a case and initiated an investigation to uncover the circumstances leading to this devastating event.

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