Mangaluru: A Mangaluru man was allegedly duped of ₹12.87 lakh after cyber fraudsters lured him into a WhatsApp investment group with promises of substantial returns from share trading. The victim was allegedly persuaded to download a trading application, create an account and invest money. The fraudsters initially returned his ₹5,000 investment along with an apparent ₹250 profit, helping establish trust before encouraging him to transfer a much larger amount.
According to the complaint, the victim was added to a WhatsApp group named ‘B1062 Prime Leaders’ on June 13. The group allegedly promoted investment opportunities and claimed to be associated with Julius Baer Group Ltd, giving the scheme an appearance of legitimacy. The alleged association was apparently used to convince members that the investment platform was genuine and professionally managed.
Fake trading app used to lure victim
After the victim joined the group, he was allegedly contacted on WhatsApp by a woman identifying herself as Sonal Jagannath, along with other people allegedly involved in the scheme. They reportedly promised attractive returns through share-market investments and persuaded him to download an application called ‘JB X One’.
The victim initially transferred ₹5,000 through UPI on July 14. Shortly afterwards, ₹5,250 was allegedly credited back to him as purported investment profit. He was also able to withdraw the amount. The successful transaction reportedly convinced him that the application and investment scheme were genuine.
This initial payment allegedly formed a crucial part of the fraud strategy. By allowing the victim to withdraw a small amount and showing an apparent profit, the fraudsters built confidence and subsequently encouraged him to invest substantially more money.
₹12.87 lakh transferred in multiple instalments
According to the complaint, the victim transferred a total of ₹12,87,108 between July 14 and August 3 through multiple transactions. The money was allegedly sent to different bank accounts using NEFT and RTGS after the people operating the scheme continued encouraging him to increase his investment.
The victim later attempted to withdraw his accumulated funds. However, the alleged fraudsters reportedly prevented the withdrawal and demanded additional payments, claiming that taxes and processing charges had to be paid before the money could be released.
They allegedly continued pressuring him to put more money into the scheme. As the demands increased and the invested amount remained inaccessible, the victim realised that he had potentially fallen into an investment fraud.
Cyber expert explains the fraud pattern
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said such investment scams commonly rely on a staged trust-building process. Fraudsters may initially allow victims to withdraw small amounts or show artificial profits to create confidence. Once a victim begins investing larger sums, withdrawals are blocked and additional payments are demanded under labels such as taxes, processing charges, verification fees or account activation costs.
He said WhatsApp and other social-media platforms are increasingly being used to target potential investors because fraudsters can create professional-looking groups and present themselves as representatives of reputed financial institutions. The use of familiar corporate names, fabricated investment dashboards and fake trading applications can make fraudulent schemes appear authentic.
Investors should independently verify the identity of any financial platform or adviser before transferring money, particularly when strangers promise unusually high or guaranteed returns, he added.
Complaint lodged with CEN police
After realising that he was allegedly trapped in an investment fraud, the victim approached the CEN Police Station and lodged a complaint. Police have begun investigating the case.
The investigation is expected to examine the bank accounts that received the money, transaction records, mobile numbers, WhatsApp contacts and other digital evidence linked to the alleged fraudsters. Investigators may also examine how the ‘JB X One’ application was distributed and whether other people were targeted through the same WhatsApp group or network.
The case highlights a growing pattern in which cybercriminals use social-media investment groups to build credibility before inducing victims to transfer large sums. The combination of an initial small profit, professional-looking investment platforms and subsequent demands for additional payments can make such frauds particularly difficult to detect until substantial money has already been lost.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
