A real estate businessman in Belgaum was cheated of Rs 12.3 lakh after being promised double returns on investment in stocks. Irfan Nippani, residing in Shahu Nagar, received a message on February 26, suggesting he could earn significant profits through stock market investments using his mobile phone. Subsequently, a case was filed at the Cyber Economic and Narcotics Crime (CEN) police station.
Trusting the message, Irfan invested Rs 5 lakh in shares via the DNP agency app. Then, on February 28, he made another purchase of shares worth Rs 7.3 lakh. Consequently, he was defrauded of a total of Rs 12.3 lakh within two days through the app.
After a month of suspicion arising from his inability to access his account on the app, Irfan lodged a complaint alleging that he had been defrauded without receiving the promised amount or principal for the duration. Consequently, a case has been filed at the CEN police station.
