Udupi Couple Arrested Over Rs 23 Lakh Fraud Scheme

Udupi Police on Thursday arrested a married couple from the city on charges of orchestrating a fraudulent scheme that allegedly defrauded investors of around Rs 23 lakh. The duo, identified as typical middle‑class professionals, were taken into custody after a series of investigations revealed that they had been soliciting money from local citizens under the pretext of a lucrative investment opportunity.

According to officials, the couple had allegedly formed a front company and promised high returns on a fictitious real‑estate venture. Victims, drawn in by promises of quick profits, surrendered their savings. Audits of financial records and digital transactions led to the arrest, and police are now probing the extent of the scheme and any potential accomplices.

The arrests have left many in the community shaken, as the victims now face the emotional and financial aftermath of the scam. Local banks are reviewing their policies for handling similar schemes, while the Udupi Police have pledged a full investigation to recover the misappropriated funds and seek justice for the affected parties. Source: Google News – Udupi.