Daijiworld Media Network - Udupi

Udupi, Nov 13: A 24-year-old man from Santuru has lodged a complaint at Padubidri police station after losing Rs 5 lac in a sophisticated fake stock market scam orchestrated through a WhatsApp link he encountered while searching for stock market tips on Instagram.

Uttam, a resident of Pilaru, Santuru Inner Area, reportedly remained in contact with unknown individuals from September 29 to November 9, during which he gradually lost the money. When he was unable to recover the funds, he approached the authorities.

Speaking to the media, it was reported that Uttam, who had an interest in the stock market, came across a WhatsApp group called “6 Invest Alliance A Team” on Instagram. Expressing interest, he was immediately instructed to download an app named “Confier” and fill in his personal information.

“After entering my details, I saw other group members posting about investing through the Confier app and earning profits. Believing them, I initially invested Rs 50,000 on November 6 and later withdrew Rs 10,000,” Uttam said.

Encouraged by the apparent returns, Uttam went on to invest a total of Rs 5 lac through the platform. However, when he attempted to withdraw the remaining Rs 4.90 lac, he was blocked from accessing his funds. Realising he had been defrauded, he filed a complaint against the numbers associated with the WhatsApp group at Padubidri police station.

Authorities have warned the public to exercise caution while responding to unsolicited investment links and to verify the authenticity of any online financial platforms.