Mangaluru: A WhatsApp group promising lucrative returns from share trading allegedly duped a city resident of nearly Rs 13 lakh, prompting police to warn people against falling for investment schemes promoted through social media groups.

According to the complaint, the victim was added to a WhatsApp group called “B1062 Prime Leaders” on June 13. The group allegedly claimed to be associated with Julius Baer Group Ltd, giving the investment scheme an appearance of legitimacy.

The victim was subsequently contacted on WhatsApp by a person identifying herself as Sonal Jagannath and others allegedly involved in the scheme. They persuaded him to download a trading application called “JB X One”, create an account and invest money, promising substantial returns.

The complainant initially transferred Rs 5,000 through UPI on July 14. Shortly afterwards, he received Rs 5,250 as a purported profit and was able to withdraw the amount.

The successful withdrawal reportedly convinced him that the platform was genuine.

Over the following weeks, he transferred Rs 12,87,108 in multiple instalments through NEFT and RTGS to bank accounts provided by the accused between July 14 and August 3.

However, when the victim later sought to withdraw his money, the alleged fraudsters reportedly demanded further payments, citing taxes and processing charges. They also continued pressuring him to invest additional funds.

Realising that he had allegedly been trapped in an investment fraud, the man approached the CEN Police Station and lodged a complaint.

The case highlights the growing risk of WhatsApp groups and social media platforms being used to lure people with promises of guaranteed or unusually high returns, often by allowing small initial withdrawals to build the victim’s confidence before encouraging larger investments.