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Mangaluru, Oct 22: A Mangaluru resident has fallen victim to a ₹20 lakh scam after being lured into a fraudulent investment scheme by individuals posing as representatives of J.P. Morgan India. The case, filed at Kadri police station, highlights the growing threat of investment fraud in the region.

The victim, whose identity has not been disclosed, was contacted on September 24 by a man named Vishwanathan, who falsely introduced himself as the Chief Investment Strategist for J.P. Morgan India. Shortly after, a woman named Neeta Sharma reached out, using multiple phone numbers to convince the victim of her association with the prestigious financial firm. She shared a company link and urged the victim to invest ₹20 lakh, promising high returns.

On October 14, after being convinced by Neeta's claims, the victim transferred ₹20 lakh to the fraudulent account. Following this, Neeta instructed the victim to purchase 1,000 shares at ₹240 per share, which he did. The next day, she advised buying 7,900 more shares at ₹250.95 each, further strengthening her false credibility.

However, trouble arose when Neeta told the victim to withdraw the invested amount. Instead of receiving the full sum, the victim was sent only ₹1,500, transferred from an unknown account. When questioned, Neeta could not provide a clear explanation for the discrepancies.

Sensing the deceit, the victim demanded a full refund of his investment. Neeta, however, brazenly asked for an additional ₹4 lakh, prompting the victim to realize the extent of the fraud. He then filed a formal complaint with the Kadri police.

This incident serves as a critical reminder for the public to remain vigilant against fraudulent schemes, particularly those involving investment promises from unverified sources. Always ensure that you verify the legitimacy of financial institutions and representatives before transferring funds. 

The Kadri police are investigating the case and have urged the public to stay alert and report any suspicious investment schemes.

Tips to Protect Yourself from Investment Scams:

1.    Verify Credentials: Always cross-check the credentials of anyone claiming to represent a reputable financial institution. Use official contact information from the company's website to verify.

2.    Be Skeptical of Unsolicited Offers: Be cautious of unexpected investment offers, especially those that promise unusually high returns.

3.    Conduct Thorough Research: Before investing, investigate the company and the proposed investment thoroughly. Look for reviews, ratings, and any red flags.

4.    Report Suspicious Activity: If you suspect a scam, report it immediately to local authorities or financial regulatory bodies to prevent further fraud.

National Conference leader Omar Abdullah will become Jammu and Kashmir's Chief Minister, declared Farooq Abdullah in Srinagar today as his party races ahead of the winning mark in assembly elections in the Union territory. The veteran politician made the announcement after it became obvious that the Congress-NC alliance would win the first assembly elections in Jammu and Kashmir in 10 years.

"After 10 years, the people have given their mandate to us. We pray to Allah that we meet their expectations. It will not be 'police raj' here but public here. We will try to release the innocent from jail. Media will be free. We have to develop trust between Hindus and Muslims," Mr Abdullah told reporters.

The former chief minister also hoped that INDIA alliance partners would help the NC fight to restore the statehood of Jammu and Kashmir, which became a Union territory following the repeal of its special status. On being asked who will be given the top post, the veteran politician declared, "Omar Abdullah banega Chief Minister."

The Congress-National Conference alliance is leading in 52 out of the total 90 seats, comfortably past the halfway mark of 46, while the BJP is ahead in 27 seats. Mehbooba Mufti's People's Democratic Party (PDP) may end up with just two seats, the trends show.

Omar Abdullah, who had earlier served in the top post from 2009 to 2015, said in an online post this morning that he hopes the counting day will end well for him. "Last time around it didn't end well for me personally. InshaAllah this time around it will be better," said the 54-year-old NC leader.

He is yet to comment on being named as the next chief minister by his father.

New Delhi: After the MUDA chairman stepped down from his post on Wednesday, the BJP demanded that Karnataka Chief Minister Siddaramaiah also resign immediately as he is "deeply embroiled" in the land "scam".

Mysuru Urban Development Authority (MUDA) chairman K Marigowda resigned from his post amid the row over alleged irregularities in allotment of sites to Siddaramaiah's wife Parvathi B M.

"MUDA chairman has tendered his resignation... I call upon Siddaramaiah that if you have the slightest morality left in you, you should step down immediately. You should not wait for today's sunset," BJP national spokesperson and MP Sambit Patra said at a press conference here.

He said Marigowda's resignation and Siddaramaiah's wife "offering" to return the MUDA sites allocated to her make it clear that the chief minister is "deeply involved in the scam from head to toe".

"There is no doubt about it," Patra said.

Earlier in the day, Marigowda submitted his resignation to the Urban Development Department secretary.

"I have resigned following directions from the CM. Also, as I had health issues, I have resigned... there was no pressure on me, as I had health issues I have resigned," Marigowda told reporters in Bengaluru.

Responding to a question, he said, "The investigation is on, and it will continue...it will be known from the probe whether there were any irregularities." Siddaramaiah is facing probes by the Lokayukta and the Enforcement Directorate into alleged irregularities in the allotment of 14 sites to his wife by the MUDA.

The chief minister has denied any wrongdoing and rejected the opposition's calls for his resignation.