Mysuru: A youth, who was allegedly lured with the offer of high returns on investment, invested several lakhs of rupees in a company, eventually to be cheated.

According to a complaint lodged at Cyber, Economic and Narcotics Crime (CEN) Police Station in city, the victim residing at Aravinda Nagar in the city, had invested Rs. 6,06,211 in  various stages. He had received a message from one Kashish, and his number was added to a WhatsApp group named – India. The messages related to investment in stock market and stock market analysis were shared in that group. The information related to second phase of investment was also shared in the group, with assured returns of 10 times more on the invested amount.

The complainant, who found the offer interesting, initially invested Rs. 50,000 and got five percent returns. He gradually invested Rs. 3 lakh, following the promise of 112 percent profit. However, when he wanted to withdraw the profit amount, he was instructed to pay 15 percent as tax and 10 percent commission charges. He paid both the amount, but was asked to pay 30 percent additional amount. He totally paid over Rs. 6 lakh, only to receive a message that his account has been blocked by RBI on the suspicion of money-laundering. Following the shocking development, the youth learnt that he has been duped with the promise  of high returns.