Mangaluru: In a case of online investment fraud, a 57-year-old man was allegedly cheated of Rs 10.5 lakh by fraudsters who lured him through Instagram with promises of high returns from digital gold trading.According to the complaint, the victim browsed Instagram on Nov 12, when he was contacted by a user identifying herself as Suhani Patel. The accused initiated friendly conversations and convinced him to invest in a digital gold market platform, assuring him of high profits.Subsequently, the accused contacted the complainant and sent a link through WhatsApp, advising him to install an app. After installing and registering on the app, the complainant was instructed to carry out transactions through the app’s customer service.Following their instructions, the complainant sent messages requesting US dollars in exchange for Indian rupees. Acting on the directions of the accused, he allegedly transferred a total of Rs 10.5 lakh in phases to the bank accounts provided by them.Later, the app displayed a balance of Rs 60 lakh, giving the impression of significant profit. However, when the complainant attempted to withdraw the money due to financial need, the transaction failed. On contacting customer service, he was told that he had to pay 30% tax in advance to enable withdrawal of the funds.Meanwhile, bank officials alerted the complainant that the transaction appeared to be fraudulent and advised him not to transfer any further money. When the complainant confronted the accused, the fraudsters immediately reduced the app balance to 0 and blocked him.Despite repeated attempts to contact the accused and assurances that his money would be returned, the complainant was eventually blocked and did not receive any refund. The complainant stated that he was cheated of Rs 10.5 lakh between Nov 12, 2025, and Feb 27. A case was registered at Mangaluru Rural police station.
