Mysuru: A 69-year-old man from Srirampura 2nd Stage has been cheated of Rs. 69.67 lakh in a Facebook-promoted online trading and investment fraud.

The victim clicked on an ad for a trading platform and was coaxed into investing large sums in multiple stages.

But when he tried to withdraw the promised profits, the scammers demanded extra payments under the guise of ‘tax’, ‘IT’ and ‘margin amount’. Realising he’d been conned, the victim complained to the CEN Police.