Mysore/Mysuru: A 53-year-old man from Gokulam lost more than Rs. 63 lakh to online fraudsters after falling prey to a fake investment scheme promoted through social media.

The victim, Mahesh (name changed), stated in his complaint that he came across an investment advertisement while browsing Instagram on Feb. 3. Soon, he received a call from a woman who introduced herself as Anvika Meher and gave him information on Kotak Securities.

According to the complaint, on Mar. 6, Anvika got a registration form filled out by Mahesh and sent a link to his WhatsApp through which a trading account was opened in his name.

On Mar. 10, Mahesh invested Rs. 1 lakh and subsequently received a call from a person claiming to be from customer care, confirming the investment.

Trusting the scheme, Mahesh continued investing money between Mar. 11 and May 8, transferring a total of Rs. 62,56,938.

When he later attempted to withdraw the profits, he was reportedly asked to contact a customer care number +918124969685 and was told to pay 7.7 percent tax in order to receive the returns.

Suspecting fraud, Mahesh contacted Cyber Crime helpline 1930 and lodged a complaint. City’s CEN Police have registered a case and investigating.