Karnataka Lecturer Loses ₹14 Lakh in Fake Investment Scam

A college lecturer in Davangere, Karnataka, was duped of around ₹14 lakh by online fraudsters who made a false promise of high return on investment. The 52-year-old victim filed a complaint with the Cyber, Economic offences and Narcotic police station, stating that strangers had included his name in a Telegram group where he was convinced to invest in stock trading with promises of assistance and high returns.

The lecturer started depositing money in stages to the accounts mentioned in the group, but there were no returns, and he realised he had been duped after a few days.

According to the complaint, the fraudsters used the Telegram group to convince the lecturer to invest, and he deposited the money in multiple stages before discovering the scam.

The police have registered a complaint and are investigating the matter. The Cyber, Economic offences and Narcotic police station will resume the investigation to track down the accused and recover the lost amount.