Teacher duped of Rs 91.9 lakh in online investment scam

Davanagere: In a shocking case of online fraud, a private school teacher from Davangere lost Rs 91.90 lakh after falling victim to a sophisticated scam promising high returns through an online investment scheme. The scammers, posing as representatives of an American trading and mining company, tricked the teacher into investing in their platform, leading to substantial financial loss.

The incident unfolded when the teacher, while browsing WhatsApp, came across a link to the website of NGC (Newmount Gold Capital), a fraudulent platform claiming to be an American company specialising in trading and mining. The teacher, attracted by the promise of high dividends, clicked on the link and was lured into providing personal documents to register for the platform. After the registration, the fraudsters created an account for him and gradually convinced him to deposit money, showing false returns and profits to build trust.

Initially, the teacher deposited Rs 27.40 lakh, after which the scammers claimed that his account held significant dividends. When the teacher tried to withdraw the money, his account was mysteriously locked. The fraudsters informed him that to unlock the account and withdraw his funds, he needed to pay an additional Rs 27.40 lakh as a fee. Believing that his account now held Rs 2 crore, the teacher complied and transferred the money.

However, the scammers continued to demand more payments, telling the teacher he needed to pay an additional Rs 47.29 lakh to withdraw his supposed balance of Rs 2 crore. The teacher, still hopeful that he would receive the money, paid the amount but never received any returns. It was only after repeated failed attempts to withdraw his funds that he realized he had been defrauded.

In total, the teacher transferred Rs 91.90 lakh to the fraudsters through various online transactions. He filed a complaint with the Cyber, Economic, and Narcotics (CEN) Crime Station in Davangere, detailing the elaborate scam and how he was lured by promises of easy money.

This case highlights the increasing number of online fraud incidents across the state, particularly those involving fake investment schemes. Despite repeated warnings from the police and media, many individuals continue to fall prey to such scams due to the lure of quick and high returns. Fraudsters often exploit people’s desire for financial gains by presenting seemingly legitimate investment opportunities, only to disappear after receiving substantial amounts of money.