Udupi Couple Arrested Over Rs 23 Lakh Fraud

Police in the Udupi district of Karnataka have arrested a couple on allegations of frauding local investors out of Rs 23 lakh through a purported investment scheme. The arrests were made by the Udupi Police on Monday after a series of investigations revealed that the couple had collected money from several residents for a land‑development project that never materialised.

According to reports, the couple used community networks and informal lending circles to persuade people to deposit funds into accounts controlled by them. The investigation uncovered that the funds were used for personal expenses rather than the promised development, leading to a loss for the victims. Police searched the couple’s residence and seized their electronic devices and bank statements to recover the misappropriated amounts.

The arrest has sent a warning to the local community about the prevalence of financial scams. While the couple’s exact identities remain unverified, the operation marks a significant step by authorities to curb fraud in the district. The case is still under investigation and further action may be taken once all evidence is compiled. Source: Google News – Udupi.