Udupi, September 5, 2025: In a major crackdown on cybercrime, Udupi District Police have dismantled two sophisticated online trading scams, arresting six suspects and recovering ₹6 lakh in cash along with multiple mobile phones used to deceive investors. The operations, led by a specialized team under Inspector Ramachandra Nayak, highlight the increasing prevalence of frauds exploiting fake trading platforms and social media networks.

Case 1: Telegram-Based Stock Market Scam

Teertharaj Shenoy (51) from Perampalli Ambagilu, Udupi, lost ₹44 lakh between December 19, 2024, and January 7, 2025, after being lured into fake Telegram groups named Capital Gains Crew and Fidility Institutional Partners F-101. Scammers promised high stock market returns, prompting Shenoy to transfer funds from his and his mother’s accounts. When no returns materialized, he reported the fraud to the Udupi Cyber Economic and Narcotics (CEN) Police.

Acting on directives from Superintendent of Police Hariram Shankar, IPS, Additional SP Sudhakar Nayak, and DySP Dr. Harsha Priyamvada, IPS, the police apprehended Shoeb Ahmed (28) and Muddasir Ahmed (40), both from Rahmat Mohalla, Hunsur, Mysuru district. Authorities seized ₹2 lakh in cash and incriminating mobile devices, while other suspects remain at large.

Case 2: Facebook-Linked Gold Trading Fraud

In a separate case, Jossy Ravindra D’Cruz (54) from Shankarpura, Kapu, was defrauded of ₹75 lakh after connecting with a woman named Arohi Agarwal on Facebook in February 2025. She persuaded him via WhatsApp to invest in FXCM Gold Trading, promising substantial returns. D’Cruz transferred the amount in multiple installments before realizing he was scammed.

A special police team arrested four individuals: Mohammed Kais (20) from Prem Nagar, Kodikere village, Surathkal; Ahmed Anveez (20) from Manjatota, Hejamadi; Safwan (30); and Taseer (31), both from Bantwal taluk. The police recovered ₹4 lakh in cash and mobile phones used in the fraud. The masterminds behind this scam are still absconding.

Police Advisory

These arrests underscore the growing threat of online trading scams exploiting social media and messaging platforms. The Udupi District Police urge the public to:

• Verify platforms before investing, ensuring they are registered with RBI/SEBI.
• Avoid sharing sensitive information like bank details or OTPs.
• Report suspicious activities immediately to the Cybercrime Helpline: 1930 or https://cybercrime.gov.in.