Haveri: A man was arrested by Haveri police on charges of cheating people by convincing them that they would earn higher profits by investing in the stock market. The arrested individual has been identified as Chandrappa Shivappa Tota.

According to a complaint lodged at the Haveri City CEN Crime Station, Chandrappa was allegedly deceiving the public by assuring them of higher returns. Manoj Hadimani from Shigihalli village in Hanagal taluk filed the complaint.

The accused reportedly convinced people that they would receive a daily profit of more than 2% by investing in the stock market. He then collected Rs 5,83,500 from various bank accounts and disappeared without providing the invested amount or the promised profits. Manoj Hadimani mentioned in his complaint. Based on the complaint, the police of CEN Crime Station, under the guidance of DySP Pragya Anand and led by CPI Shivshankar Ganachari, conducted an operation and arrested the accused.Chandrappa had previously gone to jail for cheating the public in Haveri district by promising higher returns from stock market investments. He was later released on bail. Now, he has resumed his fraudulent activities. The police seized fake receipts and deposit slips from Chandrappa under the name of a fictitious company called Dhanush Stocks Investment (D Stock).

The accused has been arrested and placed in judicial custody under the leadership of DySP Pragya Anand. Information is being gathered regarding the previous frauds committed by the accused. Such cases of fraud have seen an increase recently. DySP Pragya Anand has stated that action will be taken to arrest the offenders if complaints are made to the police station when such calls are received. The accused has been involved in two cases in 2023. Cases of fraud where individuals call people, promising higher returns from stock markets, are on the rise. Despite the police department raising awareness about this issue, people continue to fall victim to these scams.