Mangaluru, June 20: A shocking case of alleged investment fraud has come to light in Mangaluru, highlighting the urgent need for public awareness about financial scams, especially those targeting retirees and their families.
A local makeup artist has filed a complaint with Kavoor police, accusing a woman from Mumbai of cheating her out of nearly ₹29.8 lakh under the pretense of investment returns. According to the complaint, the artist’s husband—who served in the Railways—took voluntary retirement on March 18, 2024. Around this time, the accused reportedly grew close to him and persuaded him to invest in her businesses, assuring lucrative profits.
Between 2022 and November 14, 2024, the complainant’s husband transferred a total of ₹29.8 lakh into the woman’s bank accounts through multiple transactions. However, no returns were ever received. The complainant alleges that the funds were never invested but instead used for personal gains by the accused.
Tragically, the husband passed away on June 29, 2024. After his death, the complainant contacted the woman to request a refund. In response, she received partial repayments—₹50,000 on July 17 and another ₹50,000 on July 18, 2024, followed by ₹75,000 in January this year. Despite repeated follow-ups, the remaining amount was not returned. When the complainant tried reaching her again, she found her number had been blocked.
A case has been registered, and police are investigating the matter.
Public Advisory:
This incident serves as a cautionary tale for families dealing with retirement funds or large savings. Always verify investment opportunities, avoid transferring large sums without documented agreements, and remain cautious of individuals offering unusually high returns. If in doubt, consult a legal or financial advisor before proceeding.
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