Three Women Among 6 Accused in Udupi Investment Scam

A Udupi court has charged six individuals for a scheme that allegedly defrauded local residents out of millions of rupees through a purported investment vehicle.

Among the accused are three women – Asha N., Shikha R. and Meera K. – who are said to have played key roles in promoting the scheme. Investigators say the scheme promised abnormally high returns and used a front trust to channel money, ultimately siphoning funds from investors into accounts controlled by the accused.

Bank accounts totalling roughly ₹500 crores have been frozen, and officials are monitoring all related transactions. The case highlights the increasing prevalence of financial scams in Karnataka and the need for vigilance among investors. Source: Google News – Udupi.