Mangaluru: A case has been lodged against an engineering college student for allegedly duping other students on the pretext of giving 10% profit on their investment.
As per the complaint, the accused Yashvardhan Jain alias YVJ, a fourth-year student created a Telegram group named ‘YVJ Investment Enterprises’ which had nearly 981 members, most of them being students.
Yashvardhan had assured of returning 10% profit on the invested amount within a week. Initially, Yashvardhan met his promise and earned the trust of other students. However, after the first month, Yashvardhan defaulted on the payments.
The complaint mentions that his college mates reportedly invested around Rs 27.96 lac over a six-month period from June last year.