Mangaluru: A 43-year-old city resident has lost more than ₹2 crore in a long-running online investment racket, after falling prey to conmen who promised to double his money through a “safe” trading platform.
According to the complaint filed at the City Cyber Economic and Narcotics (CEN) Police Station, the victim’s ordeal began on May 1, 2022, when he received a WhatsApp message from a man named Ankit, posing as an employee of a reputed investment firm.
Ankit lured the victim with claims of guaranteed double returns and later introduced three alleged associates — Sumit Jaiswal, Kushagar Jain, and Akhil — who, he said, handled overseas investments for higher profits.
To win the victim’s trust, the scammers first asked him to invest ₹3,500 and quickly returned ₹1,000 as “profit.” Tempted by the apparent success, the complainant went on to invest increasingly larger sums over several months — transferring funds from his own accounts as well as those of his wife, uncle, and niece.
Between May 2022 and August 2025, he allegedly transferred over ₹2 crore through UPI and IMPS transactions to multiple accounts linked to the accused.
The scam unravelled when all communication from the group abruptly stopped. When the victim finally reached Ankit, he was told that the other three had “cheated” him and vanished. Later, the trio reportedly contacted the complainant, issuing death threats and warning him not to approach the police.
Alarmed, he shared the ordeal with his family and lodged a complaint with the CEN police, who are investigating the matter.
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