Mangaluru : A 74-year-old resident of Mangaluru has fallen victim to a massive cyber fraud, losing approximately ₹1.77 crore to scammers promising high returns through American commodities trading. The ordeal began in late December 2025, when the victim received a call from an international number (+44 code) from an individual identifying himself as Shoaib Ghori Ventrade. The fraudster convinced the elderly man that investing Indian Rupees into American commodities would yield significant profits once converted into US Dollars. To build initial trust, the scammers credited a small amount of “profit” into the victim’s account after his first minor investment, a classic tactic used in modern financial swindles.
Believing the scheme to be legitimate, the victim transferred a total of ₹1,77,64,668.22 through various banking channels, including RTGS, NEFT, and IMPS, between January 5 and February 2. The transactions were made to several different bank accounts as directed by the suspect via email and WhatsApp. However, when the victim attempted to withdraw his principal amount and the promised profits, the scammers cut off communication. Realizing he had been cheated, the senior citizen approached the authorities, and a case has now been officially registered at the Mangaluru CEN (Cyber, Economic, and Narcotic Crimes) Police Station for further investigation.
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