Daijiworld Media Network – Udupi (TP)

Udupi, Jan 1: Francis Castelino (72) resident of Moodubelle, Udupi, has reportedly fallen victim to an online stock market scam, losing a total of Rs 49 lacs.

The fraudsters added Castelino's son's mobile number to a WhatsApp group named "Stock Market Navigation" using the number 7482980461. The group members provided enticing information about stock market investments and promised significant returns. Gaining the trust of Castelino and his son, the scammers convinced them to invest large sums of money.

Acting on the scammers' advice, Castelino transferred Rs 17 lacs from his account, his wife transferred Rs 10.5 lacs, and their son transferred Rs 21.5 lacs to the bank accounts specified by the fraudsters on December 30, 2024. In total, the family invested Rs 49 lacs.

When the complainant attempted to withdraw the returns or the invested amount, the scammers insisted on further investments. Despite their repeated efforts, neither the returns nor the principal amount was returned, resulting in a massive financial loss.

A case has been registered at the Udupi CEN Police Station, investigations are underway to trace the culprits and recover the defrauded amount.

How to stay safe?

Vigilance is the key to avoiding such scams. If you receive such calls, never fall for the trap. Remember, police officials never initiate cases online or ask for money.

Most importantly, the term “digital arrest” is fabricated by scammers and does not exist in Indian law. If someone threatens you with it, it is undoubtedly a scam.

Additionally, never share bank details, OTPs, or other sensitive information over phone calls or messages, regardless of the caller’s claims. If you suspect a scam, report it to the authorities and your bank immediately. Quick action can help prevent further losses.