Man duped of Rs 12.5L in online trading scam

Mangaluru: A 39-year-old man filed a complaint alleging that he was cheated of Rs 12.5 lakh by fraudsters who lured him into investing in an online trading platform promising high returns.According to a complaint, the victim came across an advertisement related to trading on Facebook on Dec 15, 2025. Interested in the offer, he clicked on the link in the advertisement and entered his details. Later the same day, a person identifying himself as Siddharth Vipul contacted him through WhatsApp and provided detailed information about trading.
The accused advised the complainant to trade through a website, and sent a UPI link to make investments. Following his instructions, the complainant allegedly first invested Rs 21,000 on Dec 15, and later Rs 48,000 on Dec 23.The website showed that the investment was generating profits. Later, the accused called the complainant and claimed that investing in the digital gold market would yield double profits. He asked the complainant to transfer Rs 5 lakh to a bank account. Believing him, the complainant transferred the amount through RTGS on Jan 14. Subsequently, the accused again contacted him and claimed that because the face value in Nasdaq trading was high, more funds were required. He asked the complainant to transfer Rs 5 lakh to another account. The complainant reportedly transferred the amount through RTGS on Jan 30. Later, the accused told him that Rs 1.8 lakh more had to be invested immediately to secure profits, failing which he would lose the opportunity. Accordingly, the complainant transferred the amount on Feb 3.After these transactions, the website displayed a balance of 76,528 USDT in the complainant's account. However, when he tried to withdraw the amount, he was unable to do so. When he contacted the accused, the latter allegedly told him that 15% tax on the trading profit had to be paid before the amount could be withdrawn. The complainant then asked the accused to provide GST documents before making any further payment. When no documents were provided, he grew suspicious and realised that it was a fraud. A case was registered at the Mangaluru Rural police station.