Mangaluru businessman loses ₹1.38cr in WhatsApp stock scam
A businessman from Mangaluru lost ₹1.38 crore after a WhatsApp contact, from an unknown number, shifted from chatting about carpets to pitching easy money through stock trading.
Trusting the scheme, he sent funds to multiple accounts between December 2025 and January 2026, only realizing it was a scam when he tried to withdraw his money and was suddenly asked for a "service tax."
Police on the case—and more scams surface
After spotting the red flag, he reported the fraud after it came to light on January 15.
Police registered a case and are now investigating, hoping to track down those responsible and recover his money.
Turns out, he's not alone—other locals have been hit by similar online scams recently, losing lakhs after being lured through apps or fake social media groups promising quick returns.