Udupi Lecturer Loses Rs 26 Lakh in Investment Scam
Private college lecturer duped by Mumbai-based accused promising high returns and luxury rewards.
New Delhi, Jan 31 : A Mangaluru based private college lecturer, Subrahmanya Vijay R. (38), has allegedly been cheated of over ₹26 lakh after being lured into a high return investment scheme, police officials said.
According to the complaint, the accused, Santosh Mahendra (43) from Mumbai, was introduced to Vijay by Raghavendra of Barkur. In June 2022, the trio met at Kandlur in Kavadadi, where Mahendra allegedly convinced Vijay to invest in a company named Rich Life Care, promising to double the money within a month. Believing the assurances, Vijay initially invested ₹2.96 lakh.
The accused further enticed Vijay by promising a car for investments exceeding ₹30 lakh. Subsequently, Vijay transferred ₹26.50 lakh to Mahendra’s account. When he later sought repayment, only ₹2 lakh was returned, and subsequent attempts to contact the accused were met with threats and abuse.
A case has been registered at the Kundapura Rural Police Station, and an investigation is currently underway into the fraudulent investment scheme.
