Now Reading: Mangaluru man loses Rs 19.63 lakh in Telegram trading scam
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Mangaluru man loses Rs 19.63 lakh in Telegram trading scam
A 38-year-old Mangaluru resident lost Rs 19.63 lakh after being lured into a fake trading scheme via a Telegram group. The victim joined "Trading Discussion Group12" on June 24 while searching for…
A 38-year-old Mangaluru resident lost Rs 19.63 lakh after being lured into a fake trading scheme via a Telegram group. The victim joined "Trading Discussion Group12" on June 24 while searching for trading information, and was contacted by an account named "nalandacapital". Over two months, he transferred money in instalments to UPI IDs and bank accounts provided by the fraudsters.
When the victim tried to withdraw funds, the scammers demanded tax payment first, then claimed the account needed a balance of Rs 9,40,500. Suspecting fraud after consulting neighbours, he filed a complaint with the CEN police station on August 22 and also contacted the national cyber crime helpline 1930. The case is under investigation.
Indian Opinion Analysis
Telegram investment scams have become a common vector for fraud in India, often targeting users who search for financial information online. The groups mimic legitimate brokerages, using names like "nalandacapital" to build trust. Victims are coached through escalating payments: initial investments, then fictitious taxes, then minimum-balance demands. The Enforcement Directorate has recently arrested two people in a parallel crackdown on cyber fraud networks linked to digital arrests and money laundering involving Rs 30,000 crore. For individuals, the key defence is verifying any trading platform through SEBI's registered intermediary list before transferring money. Police will now investigate the bank accounts and UPI IDs used, with the national cyber helpline 1930 as the primary reporting channel for such complaints.
Source: deccanherald.com
This story was synthesised by AI from the source linked above.
