Udupi‑Origin Woman Arrested in Mumbai Over Rs 10 Lakh Stock Market Fraud
By ETF Desk
A woman of Udupi origin was taken into custody in Mumbai on Thursday after police uncovered a stock market investment fraud worth approximately Rs 10 lakh. The investigation, led by the Mumbai City Police, revealed that the suspect had used falsified documents and online platforms to lure investors into a non‑existent scheme.
According to officials, the alleged fraud spanned several months, during which victims were promised high returns on “expert‑to‑expert” stock picks. When the returns never materialised, the police intervened, seized the suspect’s electronic devices and created a report detailing the extent of the scam.
Law enforcement said that those affected by the scheme have been informed of the legal proceedings, and the case is now moving toward prosecution. This arrest is part of a broader effort to curb online investment fraud across major Indian cities. Source: Google News – Udupi.