Belagavi, May 18: A resident of Mutaga village in Belagavi taluk was allegedly cheated of Rs 19.5 lakh by cyber fraudsters who promised high returns through online stock market trading and IPO investments.
Source : https://timesofindia.indiatimes.com/city/hubballi/man-duped-of-rs-19-5-lakh-in-mutaga/articleshow/131155156.cms
According to police, the victim, identified as Bhushan Patil, was added to a WhatsApp group related to investments by an unknown person. The fraudsters reportedly convinced him to invest money by sharing fake screenshots and messages showing huge profits earned by other members.
Believing the claims, Patil transferred a total of Rs 19.5 lakh in multiple transactions to different bank accounts provided by the accused during October 2025.
Initially, the fraudsters remained in contact and assured him of high returns. However, they later stopped responding and cut off all communication, raising suspicion.
After realising he had been cheated, Patil filed a complaint at the CEN Police Station, Belagavi.
Police have registered a case and launched an investigation. Officials are examining bank account details, mobile numbers and WhatsApp group information to trace the cyber fraud network.
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