Home / Crime and Justice / Mangaluru Man Loses Nearly $10,000 in Online Trading Scam
Mangaluru Man Loses Nearly $10,000 in Online Trading Scam
8 Oct
Summary
- 27-year-old Ranjith K. lost Rs 6.9 lakh in an online trading scam
- Ranjith initially made small deposits, then transferred larger sums as instructed
- Police have registered a case under IT Act and Bharatiya Nyaya Sanhita
On April 10, 2025, a 27-year-old man named Ranjith K. from Belthangady taluk in Mangaluru fell victim to an online trading scam that cost him Rs 6.9 lakh, or nearly $10,000. Ranjith was browsing Instagram when he came across a link related to trading. Clicking on it led him to a website that prompted him to make a deposit.
Initially, Ranjith made small deposits of Rs 2,000, Rs 500, Rs 3,000, and Rs 5,000. To his surprise, he then received Rs 30,000, which made him believe the platform was genuine. Encouraged by this, Ranjith continued trading as instructed by unknown individuals, transferring a total of Rs 6.9 lakh into the bank accounts they provided. However, when the money was not returned, he grew suspicious and realized he had fallen prey to a fraudulent online trading scam.
Based on Ranjith's complaint, the CEN Crime police station has registered a case for offenses punishable under Section 66(D) of the IT Act and Section 318(4) of the Bharatiya Nyaya Sanhita (BNS) Act. The investigation is ongoing to identify and apprehend the perpetrators of this scam.
