Chikkamagaluru: A man from Kadur taluk has allegedly lost Rs 1.28 crore in an online trading fraud after being lured with promises of high returns.
The victim, identified as Kallegowda, reportedly came across a trading link named “FYERS” on Facebook. He later joined a WhatsApp group called “F8-FYERS Security” and opened an account through a trading link named “QIB-iPO”.
Initially, he invested Rs 60,000 and was shown a profit of Rs 17,800, which was credited to his account. This gained his trust. Following this, he transferred money in multiple transactions to different accounts as instructed by the fraudsters.
In total, he transferred Rs 1,28,10,000. When he later tried to withdraw the invested amount and profits, he was unable to do so and realised that he had been cheated.
A complaint has been filed at Chikkamagaluru CEN Police Station, and police have registered a case and started an investigation.
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