Belagavi: A software engineer was allegedly cheated of Rs 50 lakh after being lured with promises of unusually high returns in a short period through an online investment scheme.According to the complaint, the accused gained the trust of the victim, Vijayalaxmi, and between Dec 2024 and Jan 2026 induced her to transfer about Rs 37 lakh in instalments to two of his personal bank accounts. The accused also allegedly obtained details of her 3 credit cards and fraudulently availed loans amounting to nearly Rs 15 lakh using them.
Police said the total loss suffered by the complainant was estimated at Rs 50 lakh. The case once again highlighted the growing menace of online investment fraud. The Cyber, Economic and Narcotics (CEN) police registered a case and launched an investigation.The complaint further stated that the accused also cheated the victim’s friend, Srushti, of Rs 1.9 lakh by promising to provide a laptop and a mobile phone. Neither the invested amount nor the promised profits nor the electronic devices were delivered, police added.
