<p>Udupi: A 48- year- old man from Karnataka lost Rs 46.92 lakh in an online fraud in the name of investment in share market.</p><p>In a complaint, Avinash, from Kundapur stated that he was added to a WhatsApp group, "Surendra VIP Free Bull Stock Sharing Group-X98", on September 17. </p><p>The group provided information on earning profits by investing in the stock market. Believing their promise of earning profit, the complainant opened a ‘Zerodha D-mat account’ as directed by the fraudsters and invested Rs 10,000 initially. </p><p>Later, he was asked to invest through another D-mat account named ‘EMCEE – Invest Group Inc'. </p>.Cybercrimes' Catch-22: Frozen accounts and recovery woes.<p>Following the instructions, the complainant transferred a total of Rs 46.92 lakh from his bank account using Google Pay and online banking to various bank accounts provided by unknown individuals in a phased manner.</p><p>However, the complainant failed to receive any returns or profit for the money invested. </p><p>The fraudsters failed to refund the amount, thus causing significant financial loss, he said in the complaint. </p><p>Having realised that he has been cheated, he filed a complaint to the CEN Station in Udupi. A case has been registered under Sections 66 (C), 66 (D) of IT Act and section 318 (4) of BNS act.</p>
<p>Udupi: A 48- year- old man from Karnataka lost Rs 46.92 lakh in an online fraud in the name of investment in share market.</p><p>In a complaint, Avinash, from Kundapur stated that he was added to a WhatsApp group, "Surendra VIP Free Bull Stock Sharing Group-X98", on September 17. </p><p>The group provided information on earning profits by investing in the stock market. Believing their promise of earning profit, the complainant opened a ‘Zerodha D-mat account’ as directed by the fraudsters and invested Rs 10,000 initially. </p><p>Later, he was asked to invest through another D-mat account named ‘EMCEE – Invest Group Inc'. </p>.Cybercrimes' Catch-22: Frozen accounts and recovery woes.<p>Following the instructions, the complainant transferred a total of Rs 46.92 lakh from his bank account using Google Pay and online banking to various bank accounts provided by unknown individuals in a phased manner.</p><p>However, the complainant failed to receive any returns or profit for the money invested. </p><p>The fraudsters failed to refund the amount, thus causing significant financial loss, he said in the complaint. </p><p>Having realised that he has been cheated, he filed a complaint to the CEN Station in Udupi. A case has been registered under Sections 66 (C), 66 (D) of IT Act and section 318 (4) of BNS act.</p>