Mangaluru Resident Loses Rs 1.5 Crore in Facebook Investment Ad Scam

A resident of Mangaluru lost Rs 1.5 crore after clicking on a wealth multiplication advertisement on Facebook. He came across a Facebook post highlighting ‘Jefferies Wealth Multiplication Plan’. The advertisement promised big returns on investments and piqued the victim’s interest. Intrigued by the opportunity to make big profit, the victim clicked on the ad and followed the instructions provided.

According to the case reported by TOI, after clicking on the advertisement, the man was asked to respond to a series of questions in the advertisement and provide his contact number. Following the question, he was added to a social media group called “Jefferies Wealth Multiplication Center-223” on May 3. Within this group, members frequently shared screenshots of the impressive returns they purportedly received from their investments, creating an illusion of legitimacy and success.

Encouraged by the testimonials and in the hope of multiplying his wealth easily, the victim decided to invest in the trading platform promoted by the group. After his confirmation, the group admin, who identified herself as Julia Stern, provided a link to open a trading account. Trusting the admin’s guidance, the victim opened an account through the link and proceeded with the investment.

The victim transferred Rs 73 lakh and Rs 77 lakh in two separate transactions from his bank accounts, totaling Rs 1.5 crore. However, after transferring the funds, the victim was unable to reach the admin. Her contact number became unreachable, raising alarm bells for the victim, reported MSN.

Realising he had likely fallen prey to a scam, the complainant promptly filed a complaint through the National Cybercrime Reporting Portal (NCRP). The Mangaluru Cyber Economic and Narcotics (CEN) police have registered a case and are investigating the matter.