Belagavi man loses ₹20 lakh to online fraud
A man from Mutaga village in Belagavi district has reported losing ₹20 lakh to online fraud. He was lured by promises of high returns through a WhatsApp group and made multiple deposits believing he was investing in shares. After failing to retrieve his funds, he sought assistance from the police, leading to a registered case.
- ▪The victim is a resident of Mutaga village in Belagavi district.
- ▪He lost approximately ₹20 lakh to online fraudsters promising high returns.
- ▪The fraud involved a WhatsApp group that encouraged investments in shares and IPOs.
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A resident of Mutaga village in Belagavi district has complained to the Cyber Economic and Narcotic Police in Belagavi that online fraudsters have relieved him of around ₹20 lakh by promising high returns.Someone added the number of Bhushan Patil to a WhatsApp group named “D85 Ashta Trade Market Thinking Alliance” saying, if he transferred money to some bank accounts, he will get back double the amount.Since October 2025, he went on depositing money in various bank accounts, thinking he was investing in shares and Initial Public Offerings. The accused were using a mobile application that went on showing purported high returns to investors.But when he tried to retrieve the amounts, he failed. After repeated failures to get his money back, he approached the police.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Hindu — Top.
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