Financial Fraud Case in Udupi: Man Duped of ₹2.3 Crore in Stock Market Scam

Udupi Cyber Crime Police Investigate Major Fraud

Located about 100 kilometers from Mangalore, Udupi has become the center of a significant financial fraud case, with local cyber crime police registering a complaint involving a scam of ₹2.3 crore related to stock market investments.

According to police reports, a 55-year-old man named Jayanand was added to a WhatsApp group on March 20 by unknown individuals. This group was used to send messages encouraging members to open accounts and invest in the stock market, promising substantial profits.

Convinced by these claims, Jayanand transferred a total of ₹2,30,65,000 in multiple installments to various bank accounts specified by the scammers between April 1 and May 13.

As per the complaint filed with the police, Jayanand has neither received any profits nor has he been able to recover his invested amount, leading him to suspect he had been defrauded. Following this, he lodged a formal complaint with the authorities, who are now investigating the entire matter.