Udupi resident loses Rs 19.59 lakh in investment fraud
By ETF Desk
A resident of Udupi district in Karnataka has been duped by an investment scam, losing a staggering Rs 19.59 lakh. According to reports, the victim was approached by individuals who promised lucrative returns on investment in a fake scheme. The scammers, who claimed to be representatives of a well-known financial institution, convinced the victim to invest a large sum of money, which he eventually lost.
The Udupi police have launched an investigation into the matter and are working to identify the culprits. The police have urged residents to be cautious of such scams and to verify the authenticity of any investment opportunities before parting with their hard-earned money.
The incident highlights the need for increased awareness about investment scams and the importance of being vigilant when dealing with unknown individuals or companies. The Udupi district administration has also been informed about the incident and is working to prevent similar cases in the future.
Source: Google News – Udupi.