Summary of this article
Bengaluru man defrauded of Rs 1.29 crore via dating app.
Scammer trapped victim with fake online investment opportunity.
Police investigating case under IT Act and BNS laws.
Online investment frauds are increasing, as scammers are using digital platforms, such as social media and dating apps to target individuals. Fraudsters trap victims to transfer substantial amounts of money with the promise of huge returns and then disappear. Recently, a Bengaluru resident reportedly lost over 1 crore in such a scam.
Jagadish C, a resident of Bengaluru allegedly lost over Rs 1.29 crore in an online investment scam when a fraudster lured him through a dating app. According to the police FIR, a lady named Meghana Reddy contacted Jagadish on the Quack Quack dating app and persuaded him to transfer money for an old-age home in Jagadish’s father’s name. Jagadish reportedly transferred over Rs 1.29 crore through multiple NEFT and RTGS transactions in early November. However, after completing the payments, he neither received the promised returns nor got his funds back. He then approached the authorities with a complaint, according to a report in NDTV.
The North CEN (Cybercrime, Economic Offences, Narcotics) Police formally registered a case under the provisions of the Information Technology Act, 2000 as well as the Bharatiya Nyaya Sanhita (BNS), 2023. Authorities are now working to recover the entire amount stolen from Jagadish.
The case highlights the rise of online investment scams where fraudsters exploit digital platforms to deceive victims and cause huge financial losses. It also emphasises why it is extremely important to be cautious, confirm platforms, refrain from disclosing personal information, and stay aware of promises for large profits when considering making investments online.
