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Bengaluru businessman loses Rs 3.8 crore in fake investment, impersonation scam

Deccan Herald
Karnataka based news
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Bengaluru businessman loses Rs 3.8 crore in fake investment, impersonation scam
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Bengaluru: A 51-year-old businessman from Hebbal lost Rs 3.8 crore after cybercriminals, posing as a financial services firm, lured him into fake trading.Police said the suspects impersonated Motilal Oswal and convinced the victim, Ramesh R (name changed), that he was dealing with a genuine company.Ramesh came across an advertisement on Instagram on July 23, 2025, promoting block trading and investments. He clicked the link and was added to a WhatsApp group named “J-3 MOTILAL OSWAL WEALTH BUILDE

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