Mangaluru: Man cheated in online stock trading scam; case filed at CEN Police Station

In a shocking case of online financial fraud, a resident of Mangaluru has been duped of ₹46,50,022 by cyber fraudsters who lured them with the promise of high returns through online stock trading. A case has been registered at the Cyber Economic and Narcotics (CEN) police station.

According to the police complaint, the victim was added to a WhatsApp group named “May Field Trading” by unknown individuals. The group promoted online stock trading, claiming that investors could earn substantial profits by buying and selling shares.

Believing the claims and showing interest in trading, the complainant invested the amount in multiple transactions over a period of time, following instructions provided by the group members. However, when the victim attempted to withdraw the invested amount, the request was denied.

Upon inquiry, a person named Tom Harris, allegedly involved in the scam, told the victim that an additional tax payment was required to withdraw the funds. This raised suspicions, and the victim soon realized they had been duped in a fraudulent trading scheme.

Police are investigating the matter and have initiated steps to trace the accused involved in this online trading scam. Authorities have also advised the public to be cautious of unsolicited messages and online groups offering investment opportunities that promise high returns.