Mysuru
In a shocking case of cyber fraud, a housewife from JP Nagar in Mysuru has reportedly lost ₹1,58,93,000 after being duped by online fraudsters who promised huge returns on trading investments. The victim, identified as Pushpa Jwalanappa Jain, lodged a complaint at the Sen Police Station after realising that she had fallen victim to a well-planned financial scam.
According to police sources, Pushpa was approached by unknown individuals who convinced her to invest in an online trading platform that allegedly yielded high profits. Acting on their instructions, she downloaded certain mobile applications suggested by the fraudsters and made an initial investment of ₹60,000. The scammers then shared fake statements showing inflated dividends to gain her confidence.
Encouraged by the apparent profits, Pushpa made further investments in phases, eventually transferring over ₹1.58 crore. However, when she attempted to withdraw her supposed earnings, the fraudsters demanded an additional ₹16 lakh as a processing charge. This raised suspicion, and soon after, the victim realised that she had been deceived.
A case has been registered under relevant sections of the Indian Penal Code and the Information Technology Act. Police officials are investigating the matter to trace the accused and recover the lost money.
Authorities have issued a warning to the public to remain cautious while engaging in online investments. They advised individuals to verify the legitimacy of financial platforms and avoid downloading unverified apps or sharing banking details with unknown sources, as cybercriminals continue to target unsuspecting investors with sophisticated tactics.