Mangaluru: An elderly man has allegedly lost ₹34.1 lakh after falling victim to an elaborate online investment scam. The case was registered at the CEN Crime Police Station, who have now issued a warning to the public against such fraudulent schemes.
According to the 73-year-old victim, he received a WhatsApp message on July 25 from an unknown person claiming to represent an investment platform called Block Trade. The scammer lured him with promises of high returns through IPO investments and sent a link to download an app. The app displayed fake investment options, creating the illusion of genuine trading activity.
Later, another scammer — a woman identifying herself as Laxmipriya Panda — added the victim to a WhatsApp group named Trustline. Members of the group persuaded him to invest further through another app called UC Trade, again offering lucrative returns.
Between July 28 and August 21, the man transferred a total of ₹34.1 lakh from his and his daughter’s bank accounts to multiple bank accounts shared by the fraudsters via RTGS, NEFT, IMPS, and UPI. When he later tried to withdraw the money, the apps blocked the process and the scammers demanded additional payments, threatening that he would otherwise lose his investments.
Realizing he had been cheated, the victim discussed the matter with his daughter and lodged a police complaint.
Police Advisory
• Do not trust unsolicited WhatsApp messages or groups promising high returns.
• Never download apps from unknown links. Use only verified apps from official app stores.
• Cross-check investment platforms with SEBI or trusted financial institutions.
• Discuss large financial decisions with family before transferring money.
• Report suspicious activity immediately to the Cybercrime helpline 1930 or local police.
The police have urged citizens, especially senior citizens, to remain cautious and not fall prey to “get rich quick” investment schemes circulating online.
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