Representative image for fraud or duping.
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Udupi: A 48- year- old man from Karnataka lost Rs 46.92 lakh in an online fraud in the name of investment in share market.
In a complaint, Avinash, from Kundapur stated that he was added to a WhatsApp group, "Surendra VIP Free Bull Stock Sharing Group-X98", on September 17.
The group provided information on earning profits by investing in the stock market. Believing their promise of earning profit, the complainant opened a ‘Zerodha D-mat account’ as directed by the fraudsters and invested Rs 10,000 initially.
Later, he was asked to invest through another D-mat account named ‘EMCEE – Invest Group Inc'.
Following the instructions, the complainant transferred a total of Rs 46.92 lakh from his bank account using Google Pay and online banking to various bank accounts provided by unknown individuals in a phased manner.
However, the complainant failed to receive any returns or profit for the money invested.
The fraudsters failed to refund the amount, thus causing significant financial loss, he said in the complaint.
Having realised that he has been cheated, he filed a complaint to the CEN Station in Udupi. A case has been registered under Sections 66 (C), 66 (D) of IT Act and section 318 (4) of BNS act.