Udupi Couple Arrested in Rs 23‑Lakh Fraud Scam
By ETF Desk
Police in Udupi arrested a couple on Friday for allegedly deceiving a resident out of ₹23 lakh through a fraudulent investment scheme. Sources say the couple had promised high returns on a supposed real‑estate project that never materialised.
The alleged fraud began when the victims received promotional material claiming that a new commercial property development would yield returns of over 15% per annum. After investing their savings, the victims stopped receiving any payments and discovered that the project had been fabricated.
The arrest has prompted a review of similar schemes in the district, and authorities are investigating whether other victims were involved. The case serves as a warning about the growth of financial scams in the region.
Source: Google News – Udupi.